Will the Apple stock price prediction on a 4-hour price scale be reliable for these bulls?

  • Apple stock price broke above a long-term downtrend line on Tuesday, October 18.
  • On October 18, buyers saw a price gap open up to 1.9% in the green zone.
  • Apple stock price is struggling on the 50-day moving average during the intraday trading session.

Undoubtedly, Apple stock price is down from its 150-day high at $176.14. From this high, the asset price behaves badly below the descending trend line (white). Buyers often failed to keep stock prices near this resistance line, but eventually they did. After a long-term and short-term outlook, Apple stock price is under control of the bulls.

During the continued downtrend, buyers lost around 24% of the cost, until the price reached a 90-day low of $134.37 on October 13, 2022. The day was extremely volatile on In recent months so far, in fact, there was a 2.47% increase in the number of buyers. same day. Later buyers barely manage higher areas from now on but still demand more value accumulation from buyers.

Over the past few days, speculators have witnessed a roller coaster ride as prices open higher and lower. It looks like buyers are gradually losing control of Apple’s stock price despite today’s opening. If prices move back below the downtrend line, further price declines may occur in the future. Despite the fact, Apple stock price stands at $143.59 at press time.

The buyers pegged their support near the $130 level. On the other hand, the $150 level will act as the next bullish barrier. Meanwhile, Apple’s stock price struggled on the 50-day moving average during the intraday trading session. So far, 20 DMA (White) have entered the coverage zone for swing trades. However, the volume of trade

On the 4-hour price chart, the RSI indicator crosses a half line after forming a high-low formation.

conclusion

Apple’s stock price is failing to manage its October 18 open. With the 50 DMA level acting as immediate resistance, buyers are facing higher price rejection and today’s selloff could lead to another decline within the week.

Support level – $165 and $130

Resistance level – $150 and $175

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.

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