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Apple Inc., Murrey Analysis

1/16/2023 3:00 PM

Shares of Apple Inc., the global giant in the development and sale of personal and tablet computers, are correcting upwards against the medium-term downtrend since the beginning of this month. The price reversed at the central line of the Murrey trading range around 125.00 (Murrey level [4/8]) and is currently approaching the pivot level 137.50 (Murrey level [6/8]), which is the key “bulls” level and a breakout of which will give the prospect of further growth to 143.75 (Murrey level [7/8]), 150.00 (Murrey level [8/8]). Otherwise, the quotes will be able to return to 125.00 and continue to decline to 118.75 (Murrey level [3/8]) and 112.50 (Murrey level [2/8]).

Technical indicators signal the continuation of the downtrend, but the consolidation of the price above the middle line of Bollinger bands does not exclude its change. Also, growth in the near term is indicated by the reduction of the MACD histogram in the negative zone and the upward reversal of Stochastic.

Resistance levels: 137.50, 143.75, 150.00. | Support levels: 131.25, 125.00, 118.75, 112.50.

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