Technical analysis: Market just broke the uptrend but is still fighting with a support, we are looking for it to break a flag upwards since it is a 4 point of an Elliot wave, and we retraced to 61.8 percent fib zone, so we are looking for it to finish full Elliot wave 1-5 which should end above the third point of Elliot wave, but it is safe Target to take first profits on a same level as a third point of the Elliot wave. And the second Target at the top of an uptrend.
Aroon: Since we are fighting a resistance Aroon is showing gain in a bullish momentum once orange line crosses blue one we are good for an entry
MACD: MACD is slow to catch up on a daily chart it still shows gain in a bearish momentum, but in lower time frames we are already gaining bullish momentum.
Bollinger bands: we just bounced of a bottom Bollinger band which shows we should move bullish direction.
Fundamental analysis: According to CNBC in a past 14 hours we received good news which will help with a bullish momentum.
Gene Munster breaks down Apple’s latest product launch and the bigger tech landscape. The launch of a new products should increase Apple stock price and a bigger landscape should give us more long term opportunities.
Apple’s $429 iPhone SE is one of its cheapest phones ever. Apple's phones becoming one of the cheapest will increase sales. Which should increase Apple stock price.
Invalidation: 145.76
Entry for a better Risk reward ratio: 158
Safe entry: 165
Target 1: 180.52
Target 2: 203.72
Aroon: Since we are fighting a resistance Aroon is showing gain in a bullish momentum once orange line crosses blue one we are good for an entry
MACD: MACD is slow to catch up on a daily chart it still shows gain in a bearish momentum, but in lower time frames we are already gaining bullish momentum.
Bollinger bands: we just bounced of a bottom Bollinger band which shows we should move bullish direction.
Fundamental analysis: According to CNBC in a past 14 hours we received good news which will help with a bullish momentum.
Gene Munster breaks down Apple’s latest product launch and the bigger tech landscape. The launch of a new products should increase Apple stock price and a bigger landscape should give us more long term opportunities.
Apple’s $429 iPhone SE is one of its cheapest phones ever. Apple's phones becoming one of the cheapest will increase sales. Which should increase Apple stock price.
Invalidation: 145.76
Entry for a better Risk reward ratio: 158
Safe entry: 165
Target 1: 180.52
Target 2: 203.72
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