Mad Money: Charts show the S&P’s bounce may be ‘ephemeral,’ Apple poised to rally

March 3, 2020 — “The charts as interpreted by Carolyn Boroden suggest that some stocks might be safer to pick at here, like Apple, but the broader S&P 500 might not be out of the woods yet,” Jim Cramer said. “As we saw today, yesterday’s huge bounce could prove to be a tad ephemeral.”

There are greater odds that shares of Apple can continue an uptrend, based on Boroden’s approach. Her Fibonacci methodology, ratios used to predict price movements, found that Apple may have a floor of support at $256 per share.

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