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Apple Daily Technical Analysis | 29 December 2017

2017-12-29 12:03 pm | Resource: Technical Analysis Section | No Views : 313

Apple shares broke the rising trend line on the 240-minute interval with the opening of the week as a result of weaker pressure of buyers and their inability to continue pushing the stock higher.

Apple Daily Technical Analysis | 29 December 2017

The stock continues to maintain the long term trend, but the short direction is reversed due to the break of the trend line as we explained earlier and also due to the break of the areas of 173.19 $, therefore the trend has been confirmed.
 The simple moving average and the slow moving average are both negative crosses, and the long term moving average has become a resistance zone.
Rate of Change 12 Break the ascending trend line and is currently trading in a short term bearish direction which supports the sellers.
It is expected that if the US Smart Electronics shares break above $ 170.03, it might target the $ 164.80 level, but if it breaches 175.93 levels, the stock might target $ 180.
Support: 170.03 - 164.80 - 155.86
Resistance: 177.80 - 186.02 - 191.34
Trend: Down


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