AAPL - Apple - this one could go either way

So this one could go either way and I have indeed wavered back and forth. The technicals could be taking it either way and i will analyze them in a moment but lets look at this new piece of news.

The release of the iPhone in China -- which has 687 million wireless subscribers, more than twice the population of the U.S. -- is expected to be a boost for both Apple and Unicom, one of three Chinese state-owned telecommunications carriers. Still, the two companies face challenges to realizing the iPhone's potential in China, including competition from similar devices, and they left several questions about pricing and other details unanswered Friday.
Under the three-year deal, iPhones will start to be sold in China in the fourth quarter. Unicom won't share revenue with Apple, as some operators do, and it will purchase the handsets from Apple on a wholesale basis and resell them to consumers, the Chinese company said. Unicom Chief Executive Chang Xiaobing said it will offer a subsidy to customers to lower the iPhone's price, but he didn't elaborate on how much the subsidy would be. An Apple spokesman confirmed the Unicom deal but declined to give further details.

The Wall Street Journal reported Thursday the iPhone's launch in China was forthcoming. As reported, the Chinese version of the iPhone will, at least initially, be stripped of its Wi-Fi wireless Internet capability to comply with government rules.

Unicom, which had 141 million wireless users at the end of July, hopes the iPhone will attract high-spending customers who will boost its earnings and give it a leg up on dominant carrier China Mobile Ltd., which has more than triple Unicom's subscriber base. The iPhone deal comes alongside Unicom's rollout of a "third-generation," or 3G, network that will enable functions like wireless video and high-speed surfing. Unicom's 3G network is the only one among three in China that is currently technologically compatible with the iPhone.
Meanwhile, several devices running Google Inc.'s Android operating system are also expected to hit the market by the end of the year, including at least one by Taiwanese phone maker HTC Corp.

Technically we have a stock above its 200 day moving average significantly that has over a 75 RSI and is overbought trending at the top of its bollinger bands... however looking at the 2 year chart the next real resistance level isn't until 177.57, if we can break that we go above 180 all the way to 188 and then to the final resistance level at 200.69.... thats why I am playing this one with the sept and Nov calls 180 strike.

I am still endorsing this position but not as bullish as i once was let me know your opinions....

sorry the horizontal lines didn't transpose correctly..

Looks like AAPL is setting up nice to breakout this week. Could make a run for that 177 historical resistance and good set a new 52 week high this week. If it fails to break 172..i'd be a seller. http://onlinetradersforum.com/styles...foro/clear.png just keep this one on your watchlist.