In this post, we will discuss Apple Stocks Analysis by using Top down approach. Apple is an American multinational technology company that specializes in consumer electronics, software and online services. The Apple stock price is currently trading at $ 164. The Market cap of Apple is $ 2.67Tn, Price to earning ratio of Apple is 27.27 and Earning per share of Apple is 6.01.
Apple Stocks Analysis –
Technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data. As we there are different time frames starts from yearly, quarterly, monthly, weekly, daily and many more. Higher time frame stock charts are always stronger than lower time frame. We will study this time frames in details below.
Weekly Chart –
In above weekly chart, we can see the price is making ascending triangle structure. The ascending triangle structure is shown by using resistance and support (trendline). The resistance levels are 177.85-183.69. The support is shown by using trendline.
Daily Chart –
In above daily chart, We can see the price has broken the resistance level (lower high) which has shown by using blue trendline. The price has moved upward very strongly from touching the support level, which shows there is still strong strength in the price. Also the yellow color circle shows the bearish engulfing candlestick pattern which crossed the moving averages.
1-Hour Chart –
In above 1-Hour chart, we can see the price is making lower highs and lower lows which is shown by using support and resistance trendline, the structure is like flag pattern. The price is in support zone levels of 163.12-165.39 which is shown using rectangle structure. There is also another support below current support zone level which are 154.35-156.79. There is also resistance level for 1-hour time frame which are 171.78-173.53.
- Weekly Chart – Ascending Triangle
- Daily Chart – Downtrend
- 1-Hour Chart – Flag Pattern