Apple Reversing To The Upside

Contributor Image
Written By
Contributor Image
Written By
Tran Dai Phat
Tran Dai Phat, a Forex Educator at FXTM with a Bachelor's Degree in Investment, brings multiple years of financial market experience to the aid of aspiring traders everywhere. He conducts research on stocks, forex, and commodities, sharing his insights to empower traders and encourage the development of simple strategies for maximizing trading potential.

The APPLE Inc. (NASDAQ:APPL) on the 4-Hour Chart has been following a downward path since 7 September 2021, having found resistance at $157.25.

Apple has reached its bottom at $138.27 on 4 October 2021, and the attractive price encouraged investors who entered the market with long positions and as a result they pushed Apple to higher levels, followed by a pattern of Inverse Head and Shoulders after unsuccessfully attempts to record new lows.

Subsequently, the price breached above the Neckline of the pattern, due to high concentration of demand over softer supply, which already triggered a reversal to the upside.

Technical Analysis

Upon applying Technical analysis on the price chart, one can see that MACD Oscillator registers values above zero-line.

Besides, the price is also trading above the 50-period Simple Moving Average line, which confirm the bullish bias in the market.

After a series of net gains, the Stochastic Oscillator entered the overbought zone, which alerts a potential recovery to the downside of the stock.

For that scenario, it might just be a short-term correction as the long-term sentiment remains bullish.


Applying the Fibonacci Retracement tool to the price chart, three price targets may be calculated

  • The first price target is estimated at $148.26 (161.8%).
  • The second price target is seen at $153.86 (261.8%).
  • The third price target is projected at $162.92 (423.6%).

At the time of writing, the first price target has been breached.

Of course, it remains to be seen whether the crowd psychology as well as the bulls’ pressure will manage to maintain the control of the market and push Apple higher.

Apple Daily 21st Oct 21

For more information, please visit: FXTM

Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three account types, they cater to all levels of trader.