AAPL Double Bottom target aquired

Our successful position in AAPL has reached our initial price target today. The beginning thesis for our entry was based on the Double Bottom formation from the April and June lows. We have been targeting the $545 area as our place to trim a little gain. Our position has moved nicely since our entry and I am taking half of our position off at this target acquisition. Let's take a look at the setup:

 There are a couple interesting factors in play at this level:
1. Price has acquired the double bottom target
2. AAPL is testing the underside of its extended longterm support line (yellow), now turned resistance
3. $545 is the 50% retracement of the decline from AAPL's big selloff last year
4. This is another key inflection point going back to early 2012 and then again in late 2012

This is not an automatic sell here as there still are many positives as well. I like to trim up half of my positions once a major price target is hit, but I can understand if you would like to continue to hold your positions. One could certainly argue that this week's move is a buy signal if we can close the week above $532; it would be the highest weekly close since late last year. You can see also the presence of a cup/handle pattern in progress where the last month's trading action has acted as the breakout and this week is the follow through of that move. So there are still lots of things to like in this space, but after the move we have seen recently and my primary target acquisition, I feel its worth harvesting some gains.