Apple is outperforming in long term charts but there isn’t a high certainty that shares will rise in short term. Will today's Apple stock Technical analysis show otherwise with the big Iphone event?
12 September, AtoZForex – Apple stock was up a day before the company is expected to announce its highly awaited 10th anniversary iPhone 8 or iPhone X. Yesterday, the Apple stock (NASDAQ: AAPL) surged 2.87 points (+1.81%) to 161.50 levels with trading volume of 31.58M. Also, the Apple Inc. will become a $1 trillion market-cap company if the stock rises to $193.70.
Stock: Apple Inc. (NASDAQ: AAPL)
Apple stock Technical analysis
Apple’s stock on average surged about 16% in the six months prior to an iPhone launch. But only about a 4% rise occurs in the resulting six months. Expectations are even much higher for the iPhone 8 than earlier. Those anticipations are already discounted in Apple’s stock price. Any disappointment could send the stock down. Moreover, The RSI has traced a lower high in the overbought zone and is on the weaker side.
Moreover, Apple stock ordinarily performed well going into an iPhone launch, with a middle-value return 90 days earlier of 15.6%, which beat the 10.9% pick up in the S&P 500 amid similar periods.
It's important that value returns were discernibly more regrettable in the run-up to the iPhone 5s and iPhone 6s dispatches — years when Apple was relied upon to release iPhones with just minor updates as opposed to an all-new outline.
Apple stock price return into iPhone launch
iPhone release demonstrated a moderate burn, with the huge returns touching base in the vicinity of 90 and 180 days a short time later. Moreover, - 35.4% value return 180 days after the iPhone 5 release. That is apparently because of Apple's disputable choice to expel Google Maps and reveal its less solid Apple Maps application.
Apple price returns post iPhone launch
Regarding Apple's anticipated high-end iPhone, Munster said:
"I believe this phone will deliver on a much higher growth rate for the iPhone." Also, "The watch is 3 percent of Apple's business today and if they allowed it to be untethered to the phone ... it creates a bigger opportunity. We think it will essentially double the size of that business."
Apple Inc. (NASDAQ: AAPL) Monthly Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 137.33 | 142.87 | 153.44 | 158.98 | 169.55 | 175.09 | 185.66 |
| Fibonacci | 142.87 | 149.02 | 152.83 | 158.98 | 165.13 | 168.94 | 175.09 |
| Camarilla | 159.57 | 161.05 | 162.52 | 158.98 | 165.48 | 166.95 | 168.43 |
| Woodie's | 139.83 | 144.12 | 155.94 | 160.23 | 172.05 | 176.34 | 188.16 |
What do you think about the Apple stock Technical analysis and What are you expecting from the big Apple's iPhone event? Let us know in the comments section below.