Apple: Positive Short Term Momentum
Petros Steriotis | Dec 22, 2014 05:14AM ET
Last Thursday, Apple Inc (NASDAQ:AAPL) shares broke the downtrend line that prevailed from Nov 28 to Dec 17. The breakout was confirmed on Friday. Short-term momentum is positive as long as prices remain higher than $111. There is resistance in the 114-115 area, but bulls are likely to target the all-time high levels at 120 in the next few weeks. Thursday’s opening gap and the 50-day SMA in the 109,50 area provide nice support.
AAPL, daily chart (3 months):
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.