Hi traders,
Trend Analysis:
Apple has been moving erratically lately based on speculation and news about the trade war. Volatility and volume are increasing as we approach the first day of US-China tariff implementation(Sept 1). A triangle has formed and we could break out of this trend in the near future. With the news of the tariffs and the retaliatory tariffs that China plans to impose, we could see the price retrace back down towards the sub 200 mark.
If the price breaks the $214 level, then we could see a nice upward trend for AAPl, but if the price breaks below $200 it is a good sign that it will fall down to the $190 resistance mark.
Technical notes:
The RSI is showing some healthy momentum, but with the news of the tariffs, we could see it reverse. The EMA (20) is just below the price which confirms the momentum, but that could change as more bad news about the tariffs surface.
Conclusion:
Follow the news closely and keep an eye out for a tweet from the US president. AAPL is part of FAANG, so remember, if the economy is down, most likely AAPL will be down as well since they are all tied together.
Happy trading!
Trend Analysis:
Apple has been moving erratically lately based on speculation and news about the trade war. Volatility and volume are increasing as we approach the first day of US-China tariff implementation(Sept 1). A triangle has formed and we could break out of this trend in the near future. With the news of the tariffs and the retaliatory tariffs that China plans to impose, we could see the price retrace back down towards the sub 200 mark.
If the price breaks the $214 level, then we could see a nice upward trend for AAPl, but if the price breaks below $200 it is a good sign that it will fall down to the $190 resistance mark.
Technical notes:
The RSI is showing some healthy momentum, but with the news of the tariffs, we could see it reverse. The EMA (20) is just below the price which confirms the momentum, but that could change as more bad news about the tariffs surface.
Conclusion:
Follow the news closely and keep an eye out for a tweet from the US president. AAPL is part of FAANG, so remember, if the economy is down, most likely AAPL will be down as well since they are all tied together.
Happy trading!