Apple: A correction is in the air

On October 3, 2018, the Apple share price reached its 2018 high for the year at 233.47 US dollars. The value then turned into a correction, which caused the exchange rate to fall to 146.59 US dollars by 24 December. This low was briefly undercut again on 3 January at 142.00 US dollars, before Apple also swung into the upward movement on Wall Street, which had started since Christmas, and increased to 175.57 US dollars by 6 February.

After a roughly one-month sideways movement in the catchment area of the 50-day line, the share once again touched the moving average on 8 March and bounced upwards. In the meantime, the subsequent upward movement has pushed the price up to 188.99 US dollars.

If buyers can continue the upward movement in the coming days, the interim high of 194.97 US dollars on 16 November and the low of 198.17 US dollars on 5 November are the next targets.

Short-term weakness could already be absorbed by the high of 184.93 US dollars on 3 December. Among them, the February 6 high of 175.57 US dollars provides support. If it is also abandoned, the 50-day line will probably be re-tested. This is still rising and currently runs at 176.60 US dollars.

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A post by Dr. Bernd Heim.