Apple extends gains - Analysis - 16-08-2022

Apple's stock advanced in the intraday levels amid the dominance of the upward correctional short-term wave, alongside the very steep trend line, indicating the strength of the upside trend, with the stock rising 0.63% in the last session, or 1.09 points, settling at 173.19, with positive pressure from the 50-day SMA, coupled with positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the pivotal resistance of 182.94, provided it holds above 166.50. 

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Expected trend for today: Bullish