Daily Stock Report

Apple Inc. - (AAPL) - July 15, 2022

Since the beginning of June, Apple (AAPL) has been climbing back up the rankings within the Yellow Neutral Zone of the SIA S&P 100 Index Report. Yesterday it jumped 8 positions to 30th place and is now sitting 4 spots outside of the green zone.  

A bullish reverse head and shoulders base appears to be forming in Apple (AAPL) shares, between a head near $130.00 and a neckline near $150.00. Since completing the right shoulder two weeks ago, the shares have continued to climb snapping a downtrend line plus regaining, retesting and launching up off of their 50-day moving average. 

A breakout over the $150.00 round number neckline would complete the base and signal the start of a newuptrend. Should that occur, a measured move suggests next potential resistance may appear near $170.00. Initial support appears at the 50-day average near $143.00.   

After selling off from April to June, Apple (AAPL) has been showing signs of support lately. Although the shares are still on a bearish Double Bottom signal, they only dropped two rows before reversing to the upside, a bullish Bear Trap. The emergence of a high low suggests that the shares underlying uptrend may still be intact. In order to confirm that accumulation has resumed, the shares need to close above $152.25.

On a breakout, which would complete a bullish double top pattern, next potential resistance would appear near $171.45 based on a horizontal count, followed by the previous peak near $181.95. Initial support appears near $137.90 based on a 3-box reversal, then the recent low near $129.95.  

With its SMAX increasing to a bullish 6, AAPL is exhibiting strength against the asset classes. 

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.