AAPL closes within prior day's range after lackluster session
AAPL ended Thursday at 190.80 edging higher $0.10 (0.05%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Thursday's trading range was $1.35 (0.7%), that's far below last trading month's daily average range of $2.03. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.
Prices are trading close to a key support level at 189.77. After having been unable to move lower than 190.44 in the prior session, the share found buyers again around the same price level today at 190.22.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 192.88 where further buy stops might get triggered. Selling could accelerate should prices move below the nearby swing low at 189.77 where further sell stops might get activated. As prices are trading close to June's low at 187.75, downside momentum could speed up should Apple mark new lows for the month.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Apple Inc.
|3 Consecutive Lower Closes||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Very Strong Down Move||TQ Pro Members Only|
|Bullish Spinning Top||TQ Pro Members Only|
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