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Cramer: Apple charts ripe for a juicy $146 price target

With Apple's product launch event just around the corner, many investors are wringing their hands worried about weaker demand for cellphones and the new iPhone 7. But Jim Cramer found bullish news buried in the charts for the stock.

"Not too long ago Apple's chart looked hideous, now it's got a lot going for it. This is why I'm always saying that you should never trade Apple, just own the darned thing," the "Mad Money" host said.

Cramer turned to the help of Carolyn Boroden to interpret the charts. Boroden is a technician who runs FibonacciQueen.com and is a colleague of Cramer's at RealMoney.com.

Boroden first noted the symmetry of Apple's charts. This refers to a chart pattern mimicking one of a prior date. She saw that going into the bottom of April 2013, Apple's shares moved $45.71 lower in value. Likewise, Apple's recent downswing in May stopped going lower after a $45.07 decline in the...


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