Apple ends cautiously higher - Analysis - 07-06-2022

Apple's stock (AAPL) rose 0.52% in the last session, or 76 cents, settling at 146.14 points, with trading volumes surpassing 71.5 million shares, below 10-day averages of 90.6 million shares, as the stock trades alongside the downward short-term trend line, with negative pressure from the 50-day SMA, and with negative divergence from the RSI after reaching overbought levels, with negative signals out of them. 

The company launched its new operating system iOS 16 for the iPhone, while announcing many other updates.

Apple also revealed the new MacBook Air and MacBook Pro, redesigned with 13 inches, and M2 chips, including 8-core processor and a new graphics card. 

Therefore we expect the stock to return lower, targeting the support of 132.60, provided the resistance of 157.26 holds on.

Expected trend for today: Bearish