Apple may rise to 235.60 - 242.10

Our pivot point stands at 203.6.

Our preference

The upside prevails as long as 203.6 is support.

Alternative scenario

The downside breakout of 203.6 would call for 193.2 and 186.8.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (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 194.8875 and 182.4828). Finally, Apple has crossed above its upper daily Bollinger band (210.11).

Supports and resistances

248.4 **

242.1 *

235.6 **

229.3

214.11 (USD-last)

207.6

203.6 **

193.2 *

186.8 **

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