The Apple stock (NASDAQ: AAPL) plunged -1.16% after the company announced that will install the device needed at some Starbucks coffee stores, KFC, and Chill’s restaurants to boost mobile-payment service. The service will be in a pilot form and these stores will accept that kind of payment by the end of 2016. The announcement may drop the stock in the short-term, based on the fact that previous efforts of other companies like Google Inc., and eBay Inc. to promote the mobile payment service failed, but in the long-term this may be proved out the start of a new technology leisure in our life, and profitable for Apple Inc., that will promote indirectly the apple watch as well! It’s notable that apple watch is a new-launched device the recorded below forecast sales, unprecedented for the Apple.

Apple stock fell for a second consecutive day, however, the losses were limited. Looking at the weekly performance the stock is set to deliver a second consecutive negative week, following a 3.77% losses the previous week. Moreover, the stock started the month in negating footing as it has been traded negative -0.73% so far this month, following a -2.18% for September, -7.04% for August, -3.28 for July and -3.73% for June; more than 15% losses the last 4 months.

On our August’s Apple report “Is Apple Facing a Double Bite?” we have locked profit on our trading suggestion which forecasted the stock to fall below $100.00. “Such a move could easily spark a more aggressive run towards the ultimate price target and historical level at $100.00.”

Following the mid-August move, where the share moved below the psychological level of $100.00, but didn’t achieve a daily close below that level, it will now be the next highlight for the stock, whether can hold above this level and for how long, following the pressure of the its last Earnings report. The report of the Q3 had missed the estimated revenues and revealed the then new device the company launched, the apple watch, was unable to reach the break-even point, even though its possibilities were “enormous” according to the CEO Tim Cook.

I would expect the stock price to remain under pressure and test the psychological level $105.00 in the short-term. From there, I would expect a pullback and then, is more likely to rise up to $113.20. If the bulls fail to sustain the move above the level of $110.00, I would expect the stock to test the psychological level of $100.00.

Apple

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Group, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD Group analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD Group prohibits the duplication or publication without explicit approval.

72,99% of the retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please read the full Risk Disclosure: https://www.jfdbank.com/en/legal/risk-disclosure

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD stabilizes near 1.0800 as trading action turns subdued

EUR/USD stabilizes near 1.0800 as trading action turns subdued

EUR/USD holds steady near 1.0800 on Thursday and remains on track to end the day in negative territory following upbeat macroeconomic data releases from the US. The action in financial markets turn subdued as trading volumes thin out heading into Easter holiday.

EUR/USD News

GBP/USD extends sideways grind above 1.2600

GBP/USD extends sideways grind above 1.2600

GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth help the USD stay resilient against its rivals and limits the pair's upside.

GBP/USD News

Gold pulls away from daily highs, holds above $2,200

Gold pulls away from daily highs, holds above $2,200

Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.

Gold News

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase. 

Read more

Portfolio rebalancing and reflation trades emerge into Q2

Portfolio rebalancing and reflation trades emerge into Q2

Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.

Read more

Majors

Cryptocurrencies

Signatures