Technical Analysis – Apple stock accelerates recovery, 50-day SMA in focus

Apple’s stock has been trending lower since mid-August when it met strong resistance at the 176.00 region. Nevertheless, the price has been attempting a strong recovery in the short term, currently approaching its 50-day simple moving average (SMA), while trading above its upper-Bollinger band.

The momentum indicators suggest that bullish forces are in control. Specifically, the stochastic oscillator is ascending within the overbought area and the RSI is strengthening above its 50-neutral mark.

To the upside, if the advance resumes, immediate resistance might be encountered at the 50-day SMA, currently at 153.00. Conquering this barricade, the price could then challenge 158.50 before the spotlight turns to the September peak of 164.00. Even higher, the trend reversal region of 176.00 could curb any further upside moves.

On the flipside, bearish actions could send the share price lower to test the inside swing high of 147.40. Sliding beneath that floor, the 142.50 hurdle may come under examination. A break below the latter could set the stage for a visit to the October low of 134.80.

Overall, Apple’s stock appears to have the necessary momentum to push higher and erase a bigger part of its recent downtrend. Therefore, a clear jump above both the 50- and 200-day SMAs may signal an extension of the rebound.

Latest News

Alphabet’s (Google) earnings growth to slow again as challenges mount – Stock Market News

Amazon Q4 earnings: A negative close to 2022 – Stock Market News

Meta Q4 Earnings: Ad segment and Metaverse take centre stage – Stock Market News

Technical Analysis – Visa stock remains bullish ahead of earnings

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.