Today at a glance: after dipping down to $135.67, Apple regained earlier losses and closed at $138.92.
With regards to technical trend indicators, chart analysis show that the MACD is significantly below its signal line, which suggests the market is running out of bearish momentum and could revert to a positive outlook as bulls regain control. Technical chart analysis shows Apple could be slowing down soon as it approaches resistance at $142.57. Of course, crossing it might suggest further gains are ahead.
With market volatility ebbing, the current technical outlook indicates Apple will remain range-bound for the immediate future.
A look at other technology stocks also showed bullish price action as Microsoft gained 2.93%, as it traded at $227.87. Adobe was up 4.83%. Accenture plc Class A (Ireland) traded at $269.07 after closing today’s trading day at $261.16 (up 3.03%).
Also worthy of note, United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 17:00 UTC.
The sleek phone manufacturer has shed 16.31% over the past three months.