Apple gathers positive momentum - Analysis - 28-11-2022

Apple's stock (AAPL) fell in the intraday levels after Wedbush Securities said the iPhone shortage has worsened last week amid ongoing protests at Foxconn, the biggest makers of iPhones, with the stock sliding 1.96%, or 2.96 points, settling at 148.11, with trading volumes surpassing 35.1 million shares, above 10-day averages of 68 million shares.

Technically, the stock is attempting to gather some momentum and pierce the downward short-term trend line, while venting off overbought saturation in the RSI, with support from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the resistance of 157.50, provided the resistance of 150.40 was pierced.

Expected trend for today: Bullish