Apple has bounced back pretty dramatically from its lows over the summer, and Jim Cramer says his long-term view is that it's a stock to own, not trade. A closer look at Apple's charts, the "Mad Money" host says, offers shareholders a glimpse into how long and how bad the tech giant's decline could last.
Carolyn Boroden, the technician who runs the FibonnacciQueen.com website, called the rebound in Apple by tracking the stock and using symmetry. For example, Apple's decline going into May of this year, when it bottomed, lasted for a little more than $45. The last big downturn before that was in April 2013, which lasted $45.71. She says many stock swings tend to be similar (or symmetrical) to previous swings in the same name.