Stock of the day: Apple

The end of the week and the whole month brings a short update on the situation on the most popular stock in the US – Apple. The last time we talked about this company was not so long ago – March 20. Back then, the price was close to a major resistance. I was hoping for a bullish finale here, not because I have this stock, but because it simply looked very tempting from the technical point of view. This is how I concluded the previous piece:

“In case of a bigger market meltdown, Apple can bounce off the green area and drop lower. The mid-term sell signal will be triggered when the price breaks the black up-trend line. We have yet to see what this week brings us but, in general, it would be really nice to witness the price closing a day above the green area and, consequently, a buy signal.”

We did get a breakout in the end and it happened on the day of the analysis (it was written before the opening of the American session). The breakout brought about a proper buy signal and the price continued moving very technically. After the initial rise, we had a small drop, which was a usual correction to test the neckline as a support. The test was positive and the price bounced higher. This is a confirmation of the bullish sentiment and the buy signal here is ON, as long as the price stays above the green horizontal support.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-apple-1