Technical analysis of Apple stock on November 9, 2017

4-hour timeframe

The 15-minute timeframe

Technical picture:

In yesterday’s trading session the US stock market, Apple’s has risen again, and now the total capitalization of the Cupertino giant is more than $ 900 billion. Apple’s net profit in the third quarter amounted to 10.7 billion dollars, higher than the same period last year. Thus, the high demand for iPhone and the good performance of the company’s revenues fuels the already considerable demand for the shares. The first target for this week 176,53 almost worked. Bounce rates could provoke a spiral downward correction. A reversal of the MACD indicator down can also signal the beginning of a correction, but the indicator may begin to discharge, since it is at its maximum positions. Stochastic is still pointing to the absence of any correction. The 15-minute chart shows that the price continues to stay above the Tenkan-sen, making relevant long positions from the level of resistance 176,53. A reversal of the MACD indicator down to signal the start of a local correction.

Trading recommendations for a 4-hour timeframe:

The price of Apple stock continues to move up. On the current chart it is recommended to consider orders for purchase with the purposes 176,53 and 180,62. To reduce manually, buy orders will be possible when the bounce rates from the first target, in the case of the turn indicator MACD down (may drain) or when forming a bearish candlestick pattern (with confirmation). Stop-loss when trading on improving exposed below the critical line 165,76. Short positions are not relevant.

Trading recommendations for the 15 minute timeframe:

On the 15 minute chart is recommended to consider orders for purchase with the aim 180,62, when opening or consolidate above 176,53 and a Stop Loss order below 176,53 and at an upward MACD.

In addition to the technical picture should also consider the fundamental data and the time of their release.

It is not recommended to transfer open positions to the next trading session due to probability of formation of a gap or be sure to put the Stop Loss order.

Signals received from candlestick patterns are the strongest when overlapping with other signals (bounce, consolidation, MACD) or require confirmation.

Explanation of illustration (chart 1):

The Ichimoku Indicator:

Tenkan-sen – red line.

Kijun-sen – blue line.

Senkou span a – light brown dotted line.

Senkou span B – light purple dotted line.

Chinkou span – green line.

The MACD red line and the histogram with white bars in the indicators ‘ window.

Red horizontal dashed lines – support and resistance.

The Stochastic indicator blue and red dotted lines in the indicator window.

Indicator Bollinger bands – 3 yellow lines.

Various candlestick combination.

Explanations to the illustration (figure 2):

Trading session – vertical dotted yellow lines.

Red horizontal dashed lines – support and resistance.

Multicolored horizontal lines – lines Ichimoku senior timeframe.

Blue cross fractals.

The MACD red line and the histogram with white bars in the indicators ‘ window.The material has been provided by InstaForex company — www.instaforex.com

(Visited 1 times, 1 visits today)
No tags for this post.