Hi friends, so today i just wanted to give a quick technical analysis
of the Apple
stock as they announcement the new iPhone 11 on 9/11/2019. to begin with, we see that the stock created its support at 142.23 in the beginning of January 2019, then made its high of 215.47 in May 2019. The stock then retraced to 0.618(61.8%) also know as the golden ratio in June 2019, At this point it began what we assume is the wave 3, which i normally the longest wave. currently the stock broke its previous high of wave 1 and made a retracement of 38% at (ii). we expect the stock to continue its uptrend. Our first take profit is at resistance level
223.67 and TP2 is 256.42, stop loss is at (ii) 192.00 respectively.
Please comment and share your thoughts.
I am a Certified Financial Market Analyst.