Trading Roundup: Apple - IPhone X, What's next?
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.
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References
This material does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not reliable indicator for any current or future performance as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks.
