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Apple shares show strength again: is a new uptrend coming? – Chart analysis

After rising to prices just above the $ 125 mark, Apple shares have fallen slightly in recent days. The meanwhile weaker overall market trend played a role here. The previous low of this price development was reached yesterday at 118.15 dollars, before Apple’s share price could turn up again with the overall market. At $ 120.71, it was not far below the daily high ($ 121.20) from NASDAQ trading.

In terms of chart technology, the development is quite interesting for the Apple share, which recently tore open an upward gap at 117.00 / 119.28 dollars. This has now been closed again, at least partially, during the consolidation. Apple shares bounced back up from the support zone at $ 117.00 / $ 118.83, which is initially positive for the stock. After the recent downward movement from the all-time high of $ 137.98 to $ 103.10, which was reached on September 21, an upward trend is emerging again, which was confirmed by yesterday’s development.

If Apple’s share price succeeds in overcoming the resistance at $ 125.18 / $ 125.39 and $ 128.79 / 128.84, the test of the all-time high would be the next test for the bulls. If Apple’s shares cannot move upwards, the risk of a renewed slide towards $ 110/112 or even $ 103.10 increases. The bulls are currently slightly ahead: the pre-market price indication for Apple shares is $ 121.46, slightly above yesterday’s closing price. However, this is not yet sufficient for the bullish scenario, something has to be done.

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