AAPL Long-term outlook

The trade war is bad news for AAPL share prices, at the end of the previous year, the company provided a discouraging outlook and came under pressure. Fortunately, there is a pause in the trade war as U.S and China enter trade talks to settle the issue. Since the beginning of 2019, AAPL share prices recovered upside and stage four consecutive bullish closes.

However, May ’19 tariff by President Trump dropped cold water on AAPL. The share prices dropped sharply before turning up again this month. President Trump scheduled to have a meeting with China’s Xi Jinping at the G20 meeting. Will both parties reach an agreement and end the trade war?

New Month

Monthly chart

The fate of AAPL share prices might depend on the closing level of this month. We could see the share prices erase most of its losses incurred in May trading month. However, the share prices stuck below $200.00 handle. Next month might provide more clue for AAPL direction.

Weekly chart

There is a triangle pattern formed on AAPL weekly chart and no breakout yet. AAPL soon will reach the top of the triangle and test it. Will a breakout or rejection happen near the top of the triangle?

Daily chart

The outlook on the daily chart is similar to the outlook on the weekly chart. AAPL look will continue its upward movement toward the top trendline. Traders could apply ranging strategies under the current situation while waiting for a breakout.

Trade plan

AAPL is consolidating inside a triangle pattern. The share prices expected to continue moving inside the triangle until breakout happens. On the fundamental side, it seems the share prices direction will depend on the development of trade war between the U.S and China.