Apple (AAPL Stock) trades in a range as it takes turn to release earnings
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFERThe Apple stock (NASDAQ: AAPL) has been trading in a sideways range, between 131.30 and 135.60, since April 9th. However, zooming out, we can see that the broader trend remains to the upside, with the stock staying above the upside support line drawn from the low of September 21st. With all those technical signs in mind, we would consider the medium-term outlook to be cautiously positive.
Today, after the closing bell, Apple releases its earnings results, where it is expected to increase its dividend and authorize further stock buybacks. Something like that may encourage investors to push the stock above 135.60, the upper end of the aforementioned range, something that may initially pave the way towards the 137.80 barrier marked by the high of February 9th. Another break, above 137.80, could carry more bullish implications, perhaps setting the stage for advances towards the high of January 27th, at 144.30, or the record peak of 145.00, hit on January 25th.
Shifting attention to our short-term oscillators, we see that the RSI, although above 50, is now pointing down, while the MACD is positive, but slightly below its trigger line and flat. Both indicators detect slowing upside speed and support our view to wait for a move above 135.60 before we get confident on additional advances.
On the downside, a dip below the lower end of the pre-discussed range, at 131.30, could signal the beginning of a downside corrective move. We may initially see declines towards 128.20 or 127.20, marked by the inside swing highs of March 2nd and March 16th, the break of which could see scope for extensions towards the 124.20 area, defined as a support by the inside swing high of March 23rd.
JFDBANK.com - One-stop Multi-asset Experience for Trading and Investment Services
The Apple stock (NASDAQ: AAPL) has been trading in a sideways range, between 131.30 and 135.60, since April 9th. However, zooming out, we can see that the broader trend remains to the upside, with the stock staying above the upside support line drawn from the low of September 21st. With all those technical signs in mind, we would consider the medium-term outlook to be cautiously positive.
Today, after the closing bell, Apple releases its earnings results, where it is expected to increase its dividend and authorize further stock buybacks. Something like that may encourage investors to push the stock above 135.60, the upper end of the aforementioned range, something that may initially pave the way towards the 137.80 barrier marked by the high of February 9th. Another break, above 137.80, could carry more bullish implications, perhaps setting the stage for advances towards the high of January 27th, at 144.30, or the record peak of 145.00, hit on January 25th.
Shifting attention to our short-term oscillators, we see that the RSI, although above 50, is now pointing down, while the MACD is positive, but slightly below its trigger line and flat. Both indicators detect slowing upside speed and support our view to wait for a move above 135.60 before we get confident on additional advances.
On the downside, a dip below the lower end of the pre-discussed range, at 131.30, could signal the beginning of a downside corrective move. We may initially see declines towards 128.20 or 127.20, marked by the inside swing highs of March 2nd and March 16th, the break of which could see scope for extensions towards the 124.20 area, defined as a support by the inside swing high of March 23rd.
JFDBANK.com - One-stop Multi-asset Experience for Trading and Investment Services
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.