Are we dealing with fake AAPL breakout?
Updated
Apple's share price rose sharply on June 11th following its annual developer event, where new artificial intelligence features were unveiled. This pushed the price up to $220 per share. Although the price has since retraced some of these gains, it found support at the 50% retracement level of the move from $192 to $222.
The price also breached the key $197.85 level, which had capped the price in December 2023 and summer 2023. As long as the share price remains above $195, it is likely to continue pushing higher. The next resistance levels are $220 and $227.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
The price also breached the key $197.85 level, which had capped the price in December 2023 and summer 2023. As long as the share price remains above $195, it is likely to continue pushing higher. The next resistance levels are $220 and $227.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Trade closed: target reached
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