Stocks

Apple may rise to 242.90 - 248.80

2024-08-16

Our pivot point stands at 215.2.

Our preference

The upside prevails as long as 215.2 is support.

Alternative scenario

The downside breakout of 215.2 would call for 205.4 and 199.6.

Comment

The RSI is above 50. 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 218.2855 and 217.0222).

Supports and resistances

254.6 **

248.8 *

242.9 **

237.1

224.71 (USD-last)

219

215.2 **

205.4 *

199.6 **

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

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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