Apple Powers up Ahead of iPhone 14/Pro Launch

The continued gains from Apple come amid reports that the company may launch the iPhone 14 and iPhone 14 Pro sooner than planned. According to reports, the iPhone 14, iPhone 14 Max, iPhone 14 Pro, and iPhone 14 Pro Max, three new Apple Watch models and AirPods Pro 2 may be hitting the market sooner.

Apple’s share price opened with a gap-up of more than 2% in yesterday’s trading. Intraday trading was relatively bullish, which prompted the share price to close the market with a 67-point gain from the opening price.

#Apple Stock’s rebound from 129.06 in June looks increasingly aggressive, having broken through the 151.72 resistance last July, with a total gain of +30% until yesterday’s market close. In terms of curves, technically the trend for Apple is still relatively moving to the upside, with the possibility to test 179.60 highs  or at least be limited to a touch of the descending trendline (since December 2021) around 175.00. Meanwhile, the downside will remain capped at 151.72. The daily RSI hovers around 72, but overbought signs are unlikely to take effect after the CPI report lifted tech prices.

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Ady Phangestu

Market Analyst – HF Educational Office – Indonesia

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