Apple Inc. Stock (AAPL) Long Term Technical Analysis September 2017

AAPL Long-term outlook

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Apple stages another rally in August and brought its valuation further above $800 billion which is good news. However, readers might want to delve deeper what happens behind the scene. Here is the insider transaction happen while AAPL hit a new record high. If you look carefully, there are massive volume when AAPL share prices hit a new record high in August. The notable transaction is sales by AAPL CEO Timothy Cook which sold 270k shares. The impact is not clear yet, but traders may take precaution.

Leaving the sales behind, the release of iPhone 8 received well by analysts with a higher price. The release also accompanied by new processor iOs 11 which support AR (Augmented Reality). This system is highly anticipated and once used in Pokemon Go app last year which goes viral.

Click here to read May 2017 analysis

New Month

Monthly chart

AAPL continue higher above the blue channel and not showing the bull is out of steam yet. Though it is bullish, September shows possible retracement. If the price retraces deep below the blue channel, it might produce an opportunity for short toward the bottom of the blue channel.

Weekly chart

No stop yet for the bull, the share prices expected to find support near the red trendline. Otherwise, a break lower will test the top of blue channel first.

Daily chart

AAPL on the daily chart produce four possible level to look for long positions:

  1. The daily SMA 50 combined with $156 support level
  2. Red trendline
  3. The daily SMA 100 which might coincide with the top of the blue channel.
  4. Daily SMA 200

The last option is less likely to happen, and when it happens, the odds are low for a bounce. Traders could position themselves at the mentioned level while waiting for the bullish pattern.

Trade plan

The long position could follow the plan mentioned in the daily analysis

The short position might need to wait monthly close below the top of the blue channel with a strong bearish pattern.

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