Asset Watch
Thursday, March 16, 2023
“Our Asia iPhone supply chain checks this week have been incrementally more positive with a modest uptick in demand coming out of China“ which “is a good sign that shows a steady demand curve on the flagship iPhone 14 Pro in March/June.”
Hiding out in Apple could prove to be prudent until the macroeconomic environment becomes more prosperous.
Apple’s 200-day moving average is a steady driver of support and resistance. And with the iPhone maker bouncing off the key level on Mar. 13, the technical outlook remains constructive. Additionally, Apple’s rising support line provides an extra cushion, and the uptrend should continue if one of the levels holds.
So, should you stick to large caps until these banking issues are resolved?