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Apple Inc., Technical Analysis
8/15/2022 12:03 PMThe shares of Apple Inc., an American technology company, are in a corrective trend at around 172.00.
On the daily chart, the price is within the global Expanding formation pattern, completing another up wave and approaching the resistance line at 174.00.
On the four-hour chart, it is seen that the current wave is the fifth one and, therefore, the last of the obligatory ones, and within its framework, the upper border of the pattern may be broken, and the year’s high of 183.00 will be the local target for the upward movement.
The technical indicators confirm the high probability of continuation of positive dynamics: indicator Alligator’s EMA oscillation range expands upwards, and the histogram of the AO oscillator forms rising bars in the buying zone.
