Finance

Apple Inc. (NASDAQ:AAPL) Daily Technical Review & Outlook

Apple Inc. (NASDAQ:AAPL) gained 0.35% in trading on July 18, 2017, going up from its prior closing price of $149.56 to $150.08, and has now recorded rally in 9 consecutive sessions. It is uncommon for a stock to keep rising for so many consecutive days so a temporary pullback is likely. The stock price went upward in 9 of the last 10 days and has generated 4.59% during the last two weeks. Trading activity decreased by -5.93 million shares, and in total, 17.80 M shares exchanged hands for about $2 672.14 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.

Inside AAPL’s Recent Trend

Apple Inc. (AAPL) with 90% probability to be traded between $139.36 and $152.08 in this timeframe with 90% probability. Investors sometime notices large volume spikes after a breaking of the horizontal base, and stocks rarely experience a roller coaster ride from the bottom of a trend. Stocks jumping at a middle end of a horizontal base are therefore followed in search of a potential runner.

Apple Inc. Technical Signals



AAPL has witnessed its long term and short term MA triggering a buy signal but chances are low for long-term averages to cross above short-term averages which the market considers a major buy signal. Upon corrections, the price will meet support from the averages between $147.54 and $147.60. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Thursday July 06, 2017, which calls for additional surge until the stock forms a new pivot point high. There was a decrease in volume but the price rose. This is usually not interpreted as a good sign as traders widely believe falling volume should see declining stock. Investors should be watching the price action like a hawk in the coming sessions.

Apple Inc. (NASDAQ:AAPL) Support And Resistance Levels

Apple Inc. (AAPL) recorded volume accumulation so there will probably be a surplus of buyers at $148.98, $145.42, and $142.27. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $153.99, $150.25 and $153.01.




Accumulated volume is going to prevent the price from rising further at $153.99 and this action will lead the price to take a temporary pause or stay muted for a few days.

Apple Inc. (AAPL) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.46 (0.98%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.39%.

Since the Apple Inc. has been rising for 9 straight session, the volatility is more likely to increase in the next couple of days. We don’t expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

 

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