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Apple Daily Technical Analysis | 19 September 2017

2017-09-19 11:13 am | Resource: Technical Analysis Section | No Views : 299

Apple shares are trading in a bearish direction after breaking the ascending trend line during last week's trading as weaker buyers in the stock and increased sellers' resolve, and the stock failed to cross the rising trend line when retesting.

Apple Daily Technical Analysis | 19 September 2017

Looking at the previous chart we notice that, the most expensive electronics stock broke the neckline of the classic negative head and shoulders pattern with the break of the bullish trend line and also failed in the neckline neckline.
The rate of change is trading in a bearish direction and below the zero areas to indicate that the sellers are controlling the stock.
It is expected that as long as Apple shares are trading below the neckline, it might target $ 151, and if it breaches $ 164.90 it could target 167.10.
Support: 155.11- 14.82 - 147.93
Resistance: 162.23 - 164.90 - 167.10
Trend: Down

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