Apple is under pressure. Trading idea for 09/01/2024
The US Department of Justice is preparing to initiate a large-scale antitrust case against Apple Inc. This action is prompted by the dominant position of Apple devices in the market and the measures the company has taken to safeguard its business.
As reported by CNBC (cnbc.com/2024/01/04/apple-gets-second-downgrade-this-week-as-piper-sandler-cites-iphone-sales-and-valuation.html), investment specialists at Piper Sandler have revised their forecast for the price of Apple Inc. shares, lowering it from 220 USD to 205 USD. The issuer faces fines and the necessity to restructure its business.
In the long term, this situation might lead to a decline in revenue. However, if Apple wins its case, it could give a powerful boost to its shares.
So, today, we will look at the Apple Inc (NASDAQ: AAPL) stock chart.
On the D1 timeframe, there is a noticeable downward trend. Resistance has formed at 194.66, with support at 180.18.
On the H1 timeframe, if there is a rebound from the 173.60 level, the short-term target for a price increase can be set at 189.06, while in the medium term, it could hover around 205.00.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
As reported by CNBC (cnbc.com/2024/01/04/apple-gets-second-downgrade-this-week-as-piper-sandler-cites-iphone-sales-and-valuation.html), investment specialists at Piper Sandler have revised their forecast for the price of Apple Inc. shares, lowering it from 220 USD to 205 USD. The issuer faces fines and the necessity to restructure its business.
In the long term, this situation might lead to a decline in revenue. However, if Apple wins its case, it could give a powerful boost to its shares.
So, today, we will look at the Apple Inc (NASDAQ: AAPL) stock chart.
On the D1 timeframe, there is a noticeable downward trend. Resistance has formed at 194.66, with support at 180.18.
On the H1 timeframe, if there is a rebound from the 173.60 level, the short-term target for a price increase can be set at 189.06, while in the medium term, it could hover around 205.00.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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