
The G20 summit took place in Bali, Indonesia, on November 2022…
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Apple’s stock has been steadily rising since the beginning of June. It has gained 13% over the past month. The price has managed to hold above 124.00 supported by 200-day MA and approached the 2021 high of 145.00. What’s next?
First, iPhone 12 sales have been very good. The series has actually become the most successful launch of an Apple lineup since the iPhone 6 in 2014. Apple now dominates in the 5G sales market. Given the fact that iPhone 12 is the most expensive model, it’s easy to see how this is generating revenue for the firm.
Moreover, the company prepares to launch the iPhone 13 in September. Apple has a tradition of launching new iPhones in autumn and historically the stock has a tendency to strengthen ahead of these releases. The P/E multiple at the low 20s, stable yields and a dip in market volatility add to the stock’s favorable prospects.
The factors outlined above explain how Apple may keep outperforming in the months to come. Analysts at JPMorgan expect Apple’s stock to rise to $170. Perhaps, $170 is a long shot. In case of a break above $145 we prefer focusing on $155 where the resistance line comes. Corrections on the way there are also possible: notice that the price is rather far from the moving averages and they will need to reunite once again. The key support level is at $137: as long as the stock remains above it, buyers will rule the market pushing the price higher and higher.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
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