Apple stock technical analysis: $330.00 level in the spotlight
Apple stock technical analysis highlights the $330.00 level as an upcoming bullish target. Watch out for a strong reversal if this target is reached due the presence of negative MACD price divergence.
Apple’s share price recently moved to a fresh all-time high as the tech stock continued to rally above the $300.00 level.
Apple stock price analysis shows that bulls may be targeting the $330.00 resistance level this week.
Apple US medium-term price trend
Apple stock technical analysis shows that the rally above the $300.00 level could soon face major technical resistance from the $330.00 level.
A bullish inverted head-and-shoulders pattern has been unfolding for months and propelling the much-loved tech stock to fresh all-time highs.
The size of the pattern suggests that the rally could soon end around the $330.00 level as the bullish reversal pattern completes.
Continued gains above the $330.00 level would bring Apple into unchartered waters, with the $350.00 and $400.00 level the next upside barriers.
Apple short-term price trend
Apple stock technical analysis shows that the short-term trend is in play while the price trades above the $250.00 level.
Bearish MACD divergence across the four-hour time frame is hinting that Apple is starting to appear overstretched to the upside.
Short-term traders may look to fade the latest rally around the $330.00 level in anticipation of a correction back under the $300.00 level.
Bearish MACD price divergence is present until the $280.00 level, which is a significant given that price divergence is usually reversed.
With this in mind, traders should watch for repeated technical failure from around the $330.00 as a major clue that a reversal in the stock may be forthcoming.
Apple US technical summary
Apple stock analysis suggests a rally towards the $330.00 level may be on the cards, as indicated by an inverted head-and-shoulders pattern