| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 162.95 |
| Take Profit | 156.00 |
| Stop Loss | 168.00 |
| Key Levels | 156.00, 163.00, 168.00, 177.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 168.05 |
| Take Profit | 177.00 |
| Stop Loss | 162.00 |
| Key Levels | 156.00, 163.00, 168.00, 177.00 |
Current trend
Shares of Apple Inc., a giant in the development and sale of personal and tablet computers, are moving in a corrective trend at 165.00.
Management decided to make efforts to end the proceedings with regulators in the EU, proposing to open its mobile payment system to competitors. Note that several companies have appealed to the European Commission with accusations against Apple Inc. in violation of antitrust laws by blocking access to tap-and-go technology, and in February, the department took the side of Spotify, imposing a fine of 1.84B euros on the corporation. If other competitors receive approval from the agency, the company’s fine may reach 10.0% of global annual turnover.
The financial report is due on May 2: according to preliminary estimates, revenue will decrease from 94.80B a year earlier to 90.69B dollars. Earnings per share will be 1.51 dollars, roughly in line with 1.52 dollars in the prior-year period.
Despite poor revenue forecasts, analysts expect continued growth of the issuer’s securities due to a more advanced strategy for the development of artificial intelligence (AI) technologies than that of competitors, which was noted yesterday by experts from Lynx Equity Ltd., confirming the target price for the asset at 220.0 dollars and maintaining a Hold rating.
Support and resistance
On the daily chart, the trading instrument is approaching the support line of the downward channel with dynamic boundaries of 156.00–177.00.
Technical indicators are holding a sell signal: the EMA fluctuation range of the Alligator indicator is expanding downward, and the AO histogram is forming downward bars below the transition level.
Resistance levels: 168.00, 177.00.
Support levels: 163.00, 156.00.
Trading tips
Short positions may be opened after the price declines and consolidates below 163.00, with the target at 156.00 and stop loss 168.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 168.00, with the target at 177.00. Stop loss – 162.00.
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