The stock markets are under inflationary and recessionary stress. Apple stock is also suffering as a result. Most recently, the Californians even had to give up the title of the most valuable company in the world to the oil company Saudi Aramco. But now support has ended the price slide and the stock has started to rebound. These brands are the focus.
Apple shares tested the support zone between $136 and $140 yesterday, Thursday. The price had to fall to $138.80 before the bulls dared to come out of cover again. However, the stock closed well above the support at $142.56. This means that the test was successful.
Now the cops seem to have tasted blood. This Friday, the title is being traded in a friendly market environment with a premium of 1.8 percent (as of 2:00 p.m.). The stock has started to rebound.
Chart from tradingview.com
Apple in Dollar
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Now it is time to reconquer the support zone between 150 and 155 dollars, which has become resistance. This ranges between several highs and lows over the past year and a half.
Whether the rebound succeeds depends more on the general market mood than on Apple. As long as the rebound is not confirmed with prices in the area around 150 dollars, further pullbacks to the next support around the 130 dollar mark must still be expected. For long-term investors, however, Apple is and remains a clear buy.
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Notice of Conflicts of Interest
The CEO and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related derivatives that may benefit from any price development resulting from the publication: Apple
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