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