Apple is a stock with relative strength, a strength that is not directly became worse by the positive quarterly report in the beginning of August. Full of energy exploded share in connection with the report of an important resistance, and thus has screwed up the long-term target level another notch!
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In a trend, positive or negative, is the location where a share has a little more power to turn than otherwise. The bears in the Apple had the chance in connection with the peaks in may and June but failed obviously. Now, when the share taken out these highs around the key level 157 dollars is the door open to the next long-term obstacles that we find in the 183 u.s. dollars or slightly less.
The current trend started in may 2016 and has been chewing on relatively unabated since then. That this is a positive trend indicated by both the 200-day and 50-day moving average is in positive trend and that the price stays above these. We can also see how the daily oscillators happy to keep scrolling at high levels, but without inviting too heavy recoils.
On the basis of a vågperspektiv, we can discern what looks like a third wave during the period from november 2016 to may or June 2017. We know that we then, now when the signal is in place, can look forward to a fifth wave on the upside. A wave that now should have come a bit on the way. This positive image, we can stay as long as lågpunkten at 142 dollars to keep and we had other signals that the rise would have reached a dead one.
In the shorter term, the shares have just broken above the 157 dollar level and even if the road must not be straight against 183 dollars are good chances, especially if the broader market can press on the up and set new highs.
Apple (daily chart)
Apple has generated a buy signal and purchase can be made on yesterday’s closing around 161.50 dollars or dippar down to 157 dollars. The target level can be set just under the 183 dollar level, 180 dollars evenly to the example. Stop-loss is placed we on a daily closing below 157 dollars. The biggest risk with the current set-up is broad weakness in the market, generated by, for example, concern about the situation on the Korean peninsula.
Apple – an overview
Entrance buy
$161.50
Ticker
AAPL
Målkurs
$180.00
Market
The Nasdaq
Emergency exit
$157.00
P/E (est 2017)
17.6
Latest
$161.63
Direct avk. (est 2017)
1.5 %
