Is Apple ready for a new uptrend? 01/11/2023
Apple Inc. plans to boost its revenue by expanding its market share in the computer industry through the introduction of new Mac models and other devices. According to the company's management, the computer market is projected to grow in 2024, even if it does not reach pre-pandemic levels. Bloomberg is forecasting a 5% increase in Mac sales, potentially leading to a 5.5% growth in Apple's revenue.
Therefore, today, we are focusing on Apple Inc (NASDAQ: AAPL) stock.
On the D1 timeframe, support has formed at 165.67, with resistance at 173.63. Quotes have consolidated above the significant historical level of 169.92. Additionally, a "descending wedge" pattern has formed, suggesting a possible reversal of the downward trend.
On the H1 timeframe, if there is a rebound from the 173.63 level, there is a chance that a new upward movement could start, with a short-term target set at 182.40. In the medium term, the target for a price increase could hover around 190.20.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Therefore, today, we are focusing on Apple Inc (NASDAQ: AAPL) stock.
On the D1 timeframe, support has formed at 165.67, with resistance at 173.63. Quotes have consolidated above the significant historical level of 169.92. Additionally, a "descending wedge" pattern has formed, suggesting a possible reversal of the downward trend.
On the H1 timeframe, if there is a rebound from the 173.63 level, there is a chance that a new upward movement could start, with a short-term target set at 182.40. In the medium term, the target for a price increase could hover around 190.20.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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