Is Apple Stock Due to Cool Off and Consolidate Again?

The apple logo is projected on a screen before the start of a product launch event at Apple's headquarters in Cupertino, Calif., on Sept. 10, 2019. Josh Edelson/AFP via Getty Images

Apple Inc. shares were trading slightly lower Monday morning, as the stock received a price target upgrade. One JPMorgan analyst maintained the Overweight rating on the stock and raised the price target to $210.

By publication on Monday, Apple was down 0.58 percent at $178.41.

Apple Daily Chart Analysis

Shares have broken out of what traders call an ascending triangle pattern and have pushed higher since the day of the breakout in an almost parabolic manner.