Apple may rise to 240.40 - 246.60

Our pivot point stands at 210.9.

Our preference

The upside prevails as long as 210.9 is support.

Alternative scenario

Below 210.9, expect 200.4 and 194.3.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 209.4595 and 193.896).

Supports and resistances

253 **

246.6 *

240.4 **

234.2

221.55 (USD-last)

214.9

210.9 **

200.4 *

194.3 **

Number of asterisks represents the strength of support and resistance levels.