Welcome to PrimeXBT’s technical analysis of one of the stock price of one of the largest technology companies in the world: Apple.
Fundamental Analysis and News:
After the 2018 Christmas Eve collapse of U.S. equity markets, 2019 was a year that proved many forecasters wrong. The economy remained strong, markets soared, and stocks continued their decade-long expansion.
This happened despite multiple warnings from analysts of an impending recession after the yield curve inverted over the summer, producing one of the biggest signals that growth was about to turn negative.
Demand for Apple Inc. AAPL, +1.00%: iPhone sales are poised to skyrocket thanks to new 5G devices, according to Wedbush analysts, who raised their price target to $350 from $325 and maintained its outperform stock rating in a Monday note.
Apple faced several challenges at the start of 2019, including smartphone competition, diminished demand in China, and a lack of 5G innovation.
Technical Analysis:
Apple Inc. holds buy signals from both short and long-term moving averages. Some negative signals were issued as well, and these may have some influence on near-term development.
A sales signal was issued from a pivot top point on Tuesday, December 17, 2019, which indicates further losses could be imminent until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock’s price action should be followed closely.
On downwards corrections, there will be some support that’s coming from uptrend line and 1.272% Fibonacci — which is one of its major support levels. It will be the fourth correction wave of the Elliott 12345.
Several short-term signals, along with a general uptrend, are positive and we conclude that the current level may be a good buying opportunity, as there is a fair chance for this stock to perform well in the short-term.
Watch closely for our future updates to be the first to get well-timed trading signals!
We hope you have great success with all your next trades.
Fundamental Analysis and News:
After the 2018 Christmas Eve collapse of U.S. equity markets, 2019 was a year that proved many forecasters wrong. The economy remained strong, markets soared, and stocks continued their decade-long expansion.
This happened despite multiple warnings from analysts of an impending recession after the yield curve inverted over the summer, producing one of the biggest signals that growth was about to turn negative.
Demand for Apple Inc. AAPL, +1.00%: iPhone sales are poised to skyrocket thanks to new 5G devices, according to Wedbush analysts, who raised their price target to $350 from $325 and maintained its outperform stock rating in a Monday note.
Apple faced several challenges at the start of 2019, including smartphone competition, diminished demand in China, and a lack of 5G innovation.
Technical Analysis:
Apple Inc. holds buy signals from both short and long-term moving averages. Some negative signals were issued as well, and these may have some influence on near-term development.
A sales signal was issued from a pivot top point on Tuesday, December 17, 2019, which indicates further losses could be imminent until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock’s price action should be followed closely.
On downwards corrections, there will be some support that’s coming from uptrend line and 1.272% Fibonacci — which is one of its major support levels. It will be the fourth correction wave of the Elliott 12345.
Several short-term signals, along with a general uptrend, are positive and we conclude that the current level may be a good buying opportunity, as there is a fair chance for this stock to perform well in the short-term.
- Resistance Zone: $280 - 290
- Support Level: $260
- Psychological Resistance Level: $300
- Market Cap: 1260.645 B
Watch closely for our future updates to be the first to get well-timed trading signals!
We hope you have great success with all your next trades.
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We have a similar situation with SPX
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AAPL stock price touched the 1.618% Fibonacci
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