Apple is on the up and up by general consensus. New iPhone 8 is due for release the end of this year (latest: Nov'17). Shares will increase for a month after whilst analysts wait for first month sales results. If sales targets are missed, it may mean a start of the downtrend, or if targets exceed expectations, a break of the trend, followed by a possible retouch and then up-up and away (buy on the break as it may not retouch as Apple is a strong company).
It is also a 3rd touch on the trend which is a magic number.
Upcoming is a psychological number of $150 which could see a slight price retrace but I'm not expecting much. There is a daily Pivot Point at $151.45 as well as a Fib line $151.43, which will probably see the retrace to $150.
Happy trading!
It is also a 3rd touch on the trend which is a magic number.
Upcoming is a psychological number of $150 which could see a slight price retrace but I'm not expecting much. There is a daily Pivot Point at $151.45 as well as a Fib line $151.43, which will probably see the retrace to $150.
Happy trading!
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Retrace at 151.33
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