Stock of the day: Apple

By Tomasz Wisniewski|

Published: June 13 2024, 04:52 GMT+0

Stock of the day: Apple

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In today’s stock analysis, let’s revisit Apple. A few days ago, we discussed the rectangle pattern marked with yellow lines, predicting a likely approach to the resistance. Recent positive news from Apple has sparked investor interest, driving momentum for a technical breakout.

This breakout confirms a long-term buy signal for Apple, indicating a positive sentiment. However, in the short term, we might see a bearish correction as traders test the newly established support level. Despite potential short-term fluctuations, the long-term outlook for Apple remains decidedly positive, suggesting continued growth and resilience.

Investors should watch for any pullbacks to the new support, as this could provide further buying opportunities. The recent breakout and overall market sentiment towards Apple indicate strong potential for sustained upward movement.

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

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