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Apple Inc., Technical Analysis

12/7/2022 10:16 AM

Shares of Apple Inc., the global giant in the development and sale of personal and tablet computers, are moving within a corrective trend around 143.00.

On the daily chart, the price is within the global sideways range of 130.00–175.00, forming a downward wave and almost reaching the bottom of the range.

On the four-hour timeframe, it can be seen that the quotes are enclosed within the Triangle trend continuation pattern with narrowing boundaries of 140.00–150.00 and have already entered the last third of the figure. Therefore, its implementation may come soon. Based on the statistics, a downside movement towards global support at 130.00 is more likely.

Technical indicators confirm the likelihood of a decline: fast EMAs on the Alligator indicator approached the signal line, and the AO oscillator histogram reached the transition level, forming downward bars.

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