AAPL closes within prior day's range after lackluster session
Apple Inc. (AAPL) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (AAPL as at Jun 14, 2018):
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.
With four out of the other four FAANG Stocks closing higher today, the ones that stand out on the positive side are NFLX gaining 3.41% and FB closing 2.29% higher. None of the markets ended the day in the red. Read more