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Apple Inc., Technical Analysis

3/16/2023 10:08 AM

The shares of Apple Inc., the global giant in the development and sale of personal and tablet computers, are moving within a corrective trend at 152.00.

On the daily chart, the price is within the global sideways corridor with the boundaries of 127.00–175.00, forming another ascending wave, which has almost reached the middle of the range, consolidated above 150.00.

On the four-hour chart, it can be seen that the quotes are closing within the Triangle trend continuation pattern with narrowing boundaries of 145.00–153.00. Since the price is close to the upper border of the formation, its implementation may come soon. For confidence in continued growth, the asset needs to consolidate above the local high at 156.00.

Technical indicators confirm the high probability of continued growth: fast EMAs on the Alligator indicator remain above the signal line, and the AO histogram forms corrective bars above the transition level.

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