Apple may rise to 256.80 - 263.40

Our pivot point stands at 223.5.

Our preference

The upside prevails as long as 223.5 is support.

Alternative scenario

The downside breakout of 223.5 would call for 212.1 and 205.6.

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 above its 20 and 50 day moving average (respectively at 220.2515 and 203.5336).

Supports and resistances

270.3 **

263.4 *

256.8 **

250

234.82 (USD-last)

227.9

223.5 **

212.1 *

205.6 **

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