Apple spikes - Analysis - 01-12-2022

Economies.com
1 month ago

Apple's stock (AAPL) surged in the intraday levels after announcing a security detail to improve troubleshooting in iPhone 15 and Pro 14, while also updating their wireless communication systems, after reports that iPhone 14 users are complaining from random activating of the troubleshooting feature on their phones, with the stock rallying 4.86% in the last session, or 6.86 points, settling at 148.03, with trading volumes surpassing 111.3 million shares, above 10-day averages of 68.7 million shares.

 

Technically, the stock is testing the downward short-term trend line anew, while touching the resistance of the 50-day SMA, with negative signals from the RSI after reaching overbought levels. 

 

Therefore we expect the stock to return lower, targeting the pivotal support of 134.60, provided the resistance of 150.40 holds on.

 

Expected trend for today: Bearish 

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