Current trend

Shares of Apple Inc., the global giant in the development and sale of personal and tablet computers, are moving in a corrective trend at 194.00.

Yesterday, with the publication of financial statistics, analysts positively assess the prospects for the company’s development: KeyBanc Capital Markets Inc. agency raised the target price on the issuer’s securities to 200.0 dollars from 180.0 dollars earlier, while maintaining the Overweight rating. Experts of the Morgan Stanley investment bank increased the same indicator by 30.0 dollars to 220.0 dollars from 190.0 dollars, noting that the corporation’s successful expansion to the Indian market could become a new driver of positive dynamics. Analysts say India could account for up to 15.0% of earnings growth over the next five years, with now, its share in Apple Inc. revenue is only 2.0%.

The financial report will be released on August 3, with preliminary estimates of 81.69B dollars in revenue, down from 94.8B dollars in the previous quarter, and earnings per share of 1.19 dollars, down from 1.52 dollars previously. The last dividend payout was on May 18, when investors received 0.24 dollars per share, which equates to a 0.55% yield.

Support and resistance

On the daily chart, the trading instrument is moving within the local ascending channel to the resistance line around 200.00.

Technical indicators keep a buy signal: the range of fluctuations of the Alligator EMA expands upwards, and the AO histogram forms rising bars above the transition level.

Resistance levels: 196.00, 205.00.

Support levels: 188.00, 178.00.

Trading tips

Long positions may be opened after the price rises and consolidates above 196.00 with the target at 205.00. Stop loss – 190.00. Implementation period: 7 days or more.

Short positions may be opened after the price reverses, falls, and consolidates below 188.00 with the target at 178.00 and stop loss 195.00.