Apple has seemingly created a business model that is ingenious, as every time it releases a new product (in particular within its IPhone range of smartphone devices), the prices appear to increase exponentially. However Apple's customer base continues to purchase these new products, with some critics stating that the brand has a 'cult-like' following.
Apple's latest offering, the 'IPhone X' was introduced to the market at a retail price of $999, and while it might not be meeting the expected unit sales that have been speculated by some financial experts within Wall Street, Apple's next move is somewhat intriguing.
Some market analysts have speculated that the company may place a greater focus on lower-cost phones, however, there are differing opinions on how much lower the company will reduce its prices. In a sense, Apple has potentially created a trap for itself, in that, a drastic drop in price for a new phone could be interpreted as presenting a lower quality product to the market. But despite all these speculations and concerns, Apple stocks are still performing admirably. So let's take a closer look at Apple CFD!
Strong Uptrend Targets New Highs
Source: #AAPL, H4 chart, MT5 with MT5 SE Add-on, Jun 2018
The AAPL share price is under a strong bullish pressure. We can see that the W L3 has spiked to the upside (red trend line) and the only thing standing between a continuation and consolidation is the red retracement trend line. 181.80-183.40 is the zone where we could expect renewed bullish pressure and now moment buyers. However, a breakout above 186.54 should target 188.13, 190.17 and 193.78. Continuation of the bullish trend towards 200.68 is possible on a daily or 4h close above 194.00.
Trade Most Popular Share CFDs with Admiral Markets
The share CFD offering at Admiral Markets is impressive, catering for all your needs. Should you be interested in other financial products, be sure to have a look at the entire range of our product offering.
If you found this post interesting, we welcome you to our Trader's Blog and Articles & Tutorials sections that share valuable insights on every aspect of trading. Remember, education matters the most.
Enjoy your weekend and trade safe.