Apple Short Term: the upside prevails as long as 241 is support
Apple (AAPL.US)
+2.87+1.13%
the upside prevails as long as 241 is support.
Our pivot point stands at 241.
Our preference: the upside prevails as long as 241 is support.
Alternative scenario: the downside breakout of 241 would call for 235.1 and 231.7.
Comment: the RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 243.757 and 234.8216).
Supports and resistances:
273.1 **
269.5 *
266 **
262.1
254.49 (USD-last)
243.5
241 **
235.1 *
231.7 **
Our preference: the upside prevails as long as 241 is support.
Alternative scenario: the downside breakout of 241 would call for 235.1 and 231.7.
Comment: the RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 243.757 and 234.8216).
Supports and resistances:
273.1 **
269.5 *
266 **
262.1
254.49 (USD-last)
243.5
241 **
235.1 *
231.7 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
