Apple Inc.
This is my first article in my new website (TRADINGMOST). This article is considered to be a
simple Technical Analysis Report for some of the USA stock market, so I’ll
try to make it as summarized as possible, and I will also try to make it
include the most important levels, Targets, Resistances, and supports for
the included stocks.
Technical Analysis (Short Term):
I will start with Apple Inc. because it is one of the most interesting
charts I have seen recently. When you see the chart from the first glance
you will find a famous pattern, a clear
Falling Wedge. Apple succeeded
in breaking the upper line of the Falling Wedge upward direction, which made a new entry signal.
To be clear enough, let us mention the target of the upward penetration
to the Falling Wedge. Due
to this breakup action to the horizontal level at 176.75, the target of
this upward penetration now is about 198.83. As I used to advise my
followers before looking forward to the targets, you have to take into
consideration and not forget to set the stop loss point (level) to keep
your profits safe.
So from the above-mentioned words, we have to say that the stop loss of
Apple stock now is 173.35. The support levels start by the upper limit
(line) of the mentioned Falling Wedge itself, which has been considered before as a strong moving down
resistance! Now it has reversed its position to be a high solid moving
down support, and it is the first support level started at level
176.
The second support level is the stop loss level itself at 173.35, my
advice is above this level 173.35 you have to keep and hold the stock with
you until you reach the above-mentioned target of 198.83.
On the way to reaching the upside target (198.83), some resistance will
appear the way and can make some delay or backward steps (Throwback) before reaching the upside target, these resistance levels started by
the level of price GAP at 181.47 which is the near to the previous top
level at 182.34, so the first resistance level is wide range between
181.47 up to 182.34. The second resistance level will be a wide range too, between levels 187.37 up to level 190.69.
Technical Analysis (Medium Term):
Using the above-mentioned pattern (Falling Wedge) on the weekly scale, the upside target after the actual close higher
than 177 is around 239.
Apple - Weekly Chart. |
The above-mentioned resistances - in the short term - will be as they
are in the medium term too, and level 200 will be added here to be a
strong resistance in the front of the stock in the upward direction
before the target. Finally, the stop loss for this medium term is
165.
Microsoft Corporation
Technical Analysis (Short Term):
The second stock we have today is
Microsoft Corporation. Again you can easily see a very famous pattern
already formed in Microsoft Corporation stock, the pattern is
Double Bottom Pattern (Adam and Eve). By closing higher than the pattern confirmation level which is 340.86,
the upside target is 372.20, but we have to know that, there is a
possibility to return to check the breakup level 340.86 as a Throwback
phenomenon.
Microsoft - Daily Chart. |
On the way to reach the target of course there are some resistances on
the way, these resistances started by July 2023 top which is 366.78 at
this level some steps back can be done even to return to check some
support levels which start at 351 as the first support level. The second
support level is 340.86.
Technical Analysis (Medium Term):
Here on the coming chart – the weekly chart – you can expect a solid
pattern “not confirmed yet” which is the Cup with Handle pattern, this pattern will be confirmed after breaking up the confirmation line
or level at 366.78 this case the upside target will be around 463, I
believe that it should be under your focus to catch the first
signal.
Thanks for Your Great analysis,
ReplyDeleteas Usual you are one of the best to be followed,
Keep the good work Dear.
Glad iam the first to comment, and Congrats on the new Blog <3
Thank you very much, I try hard to provide everything good and new. Your support is appreciated.
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