Naked Chart Trading: APPLE 3 May 2024

However, overall sales fell 4% and iPhone sales fell 10% year over year during the quarter, which Apple attributed to a tough comparison versus last year. Apple is expected to announce new ipads this month and that could revive demand for the product line.

Price wise, Apple's stock prices closed 2.2% higher and let me explore further on chart.

Still refer to the same chart I shared in previous Apple's naked chart trading. A strong bull trend since Jan 2023, failed to break USD 200 twice in July & Dec 2023, entering wide range sideway and testing double top bearish reversal pattern. I drawed Fibo retracement on the high and low in year 2023.

The price once tested to break the support on Apr 2024 but quickly see a strong pull back. Still, wave is still in lower highs & lows form, selling pressure remains. Immediate support level will be seen at USD164, followed by Fibo retracement level 50% USD160 and 61.8% USD152 level. Immediate resistance will be located at USD179, then 23.6% USD182 level

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This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.