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Apple Daily Technical Analysis | 21 September 2017

2017-09-21 02:47 pm | Resource: Technical Analysis Section | No Views : 316

In a previous report, we pointed out that Apple shares are trading in a bearish direction and we also pointed to a negative classical pattern that is dominating the electronic stock.

Apple Daily Technical Analysis | 21 September 2017

Currently, the stock is still trading in a bearish direction on the 60-minute time frame and the SMA is negatively intersecting with the slow and long term and pulling the three representing a resistance level for the stock.
Currently, Apple shares achieved a large part of the target of the classic head and shoulders model mentioned in the previous report and rebounded from $ 155 support.
The rate of change is trading in a bearish trend in the configuration and rebounded from oversold levels, supporting the possibility of a bounce from these levels.
It is expected that as long as Apple shares are trading below the neckline, it might target $ 151 and recommend closing a side of the contract to maintain profits in anticipation of a bounce from the 155 level targeting 157.92.
Support: 155.11- 14.82 - 147.93
Resistance: 162.23 - 164.90 - 167.10
Trend: Down

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