After getting knocked down on earnings, Apple (AAPL) has become severely oversold. From a current price of $182.80, it’s just starting to recover from over-extensions on RSI, MACD, and Williams’ %R. From here, we’d like to see the tech stock refill its bearish gap around $195, near-term.
Plus, consider this. Apple (AAPL) typically performs well ahead of a new iPhone release, says Citi. When the iPhone 15 is released this September, it should do well again. The analyst added that the AAPL stock “outperformed the S&P 500 during the period between June quarter earnings and the September iPhone announcement every year since 2016. It has climbed 8% on average over that period.”
Sincerely,
Ian Cooper
Recent Comments