APPLE INC.: TECHNICAL ANALYSIS
| Scenery | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry point | 216.50 |
| Take Profit | 201.00 |
| Stop Loss | 220.00 |
| Key levels | 200.00, 201.00, 216.00, 220.00, 223.40, 230.00, 236.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry point | 223.40 |
| Take Profit | 236.00 |
| Stop Loss | 216.00 |
| Key levels | 200.00, 201.00, 216.00, 220.00, 223.40, 230.00, 236.00 |
Shares of Apple Inc., the global giant in the development and sale of personal computers and tablets, are moving in a corrective trend at 220.00.
On the daily chart, the price is declining within the "diamond" pattern with the boundaries of 230.00–200.00, approaching the support line.
On the four-hour time frame, the downward movement may continue if the low of 216.00 is overcome, after which the next support level will be the 200.00 mark.
Technical indicators are ready to give a signal to sell: fast EMAs on the Alligator indicator are approaching the signal line, and the AO histogram is forming corrective bars, reaching the transition level.
Business scenarios
Short positions can be opened after the price consolidates below the level of 216.50 with the target of 201.00. Stop loss — above the level of 220.00. Implementation period: 7 days or more.
Long positions can be opened after the price settles above the level of 223.40 with a target of 236.00 and a stop loss of 216.00.
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