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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Tuesday, August 2, 2022, 10:40am GMT
Source: TradingView
While many U.S. companies struggle with teetering consumer demand and abnormally high inflation, Apple showcased immense resiliency. But will it be enough for the stock to surpass its May highs?
Apple gapped up on Jul. 29 and closed above its 200-day moving average, which is a solid gauge of long-term uptrends. Apple also closed above its September 2021 highs and its rising support line (which became resistance) drawn from the September 2020 lows. As a result, the technicals are in sync with Apple’s robust fundamentals.
However, the next hurdle is near Apple’s November 2021 and May 2022 highs of roughly $166.38. So even though the 200-day MA provides meaningful support at $158.94, the big tech titan ended the Jul. 29 session at $162.51, and the next ~$4 move is crucial.
So, is a breakout on the horizon? Or is long/short trading in the $158.94 to $166.38 range the best approach?
Sources:
Apply earnings call transcript:
https://www.fool.com/earnings/call-transcripts/2022/07/28/apple-aapl-q3-2022-earnings-call-transcript/
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CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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