Apple will now probably test support down towards USD 190.00
Technical Analysis of Apple Inc. (ticker on Nasdaq: AAPL)
The Apple share has shown strong development both in the short and long term, and within an upward trend.
Now it is sometimes the case that even strong trends come to an end, (cf. chart back to the strong rise for the share in the first half of 2023).
Now the share has shown a correspondingly strong development in the past six months, but now the share may face another downward correction, and within the long-term upward trend that the share is moving within.
There are occasional downward corrections and testing of support levels such as the 50-day and 200-day moving averages, and another such test of key technical support levels is now indicated by the overall technical picture for Apple stock.
That will mean a correction down to around USD 188.00 - 208.00.
There may well be a correction down to the lower trend line in the long-term rising trend as well, and in that case it will mean a correction down to around USD 180.00 - 185.00.
The overall technical picture for the Apple share, short-term and long-term, therefore now signals a correction for the share, and to somewhere between USD 180.00 - 208.00.
On Friday, the share ended at USD 224.38.
The Apple share has shown strong development both in the short and long term, and within an upward trend.
Now it is sometimes the case that even strong trends come to an end, (cf. chart back to the strong rise for the share in the first half of 2023).
Now the share has shown a correspondingly strong development in the past six months, but now the share may face another downward correction, and within the long-term upward trend that the share is moving within.
There are occasional downward corrections and testing of support levels such as the 50-day and 200-day moving averages, and another such test of key technical support levels is now indicated by the overall technical picture for Apple stock.
That will mean a correction down to around USD 188.00 - 208.00.
There may well be a correction down to the lower trend line in the long-term rising trend as well, and in that case it will mean a correction down to around USD 180.00 - 185.00.
The overall technical picture for the Apple share, short-term and long-term, therefore now signals a correction for the share, and to somewhere between USD 180.00 - 208.00.
On Friday, the share ended at USD 224.38.
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