Apple (AAPL) Potential Upside From TA (KDJ, Multi-time Frame)

The 'Magnificent 7' continues to grow earnings at an incredible pace, while the stocks also shows encouraging momentum. Q2 earnings for the ‘Magnificent 7’ companies are expected to be up +25.5% from the same period last year on +13.1% higher revenues, while the stock prices on several of them push YTD highs.

We might see new highs from Apple either this Friday (05 July) or next week in the range of $226. In this article I would like to share the technical indicators that I have used to look at Apple strength and why it has been able to help in the market rally.

If we looked at how Apple have been trading using the technical indicator, we could see that Apple is trying to make a bullish crossover on the MACD, and the buying strength have been stable.

With a strong market with Nasdaq making new highs, we could see Apple having a higher buying strength when market open on Friday (05 July) after the holiday.

Using one indicator might not be encouraged, so I would use KDJ to find out the trend movement, and as seen in the chart below, we could see that KDJ is forming a nice upside move, with J value moving up with no sign of declining.

This is one way we can use to find confirmation whether the trend is a false signal or some noise. To make us more comfortable, another technical indicator we can use is the Moving Average, which I will share in the next section.

With Apple trading nicely above the 50-day period and there is nice price entry at around $211 on 01 July, but if you have missed it, that is ok, because I would think there is more upside coming from Apple.

So in the next section, I would like to share with you multi-timeframe, where you can actually see how the signal is presenting on the different time period.

By using the multi-timeframe, it has given UP signal for all periods, so I personally expecting Apple to have a nice upside move when market open again on Friday (05 July).

While Apple have showed nice upside trading over the last few days, and helped the indices by its strength, there are certain economic data that might affect its stock price.

As of now, we are still seeing Apple having strong movement ahead based on technical analysis.

Appreciate if you could share your thoughts in the comment section whether you think Apple would continue its upside movement?

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.