Apple Inc. shares rose by 0.4% during Tuesday's trading, hitting a high of $228.24 before settling at $228.08. Trading volume was significantly lower than usual, with around 10.6 million shares exchanged, compared to the daily average of nearly 62 million. Several analysts recently increased their target prices for Apple, reflecting strong confidence in the company's future performance. For example, Wedbush raised its target to $285, and JPMorgan Chase set theirs at $265, both with "buy" or "outperform" ratings. Overall, the stock has a "Moderate Buy" consensus from analysts, with an average target price of $237.30.
APPLE – H2 Timeframe
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APPLE is looking quite encouraging for sellers at the moment with a SBR pattern coming right after price reached the supply zone on the weekly timeframe. The 2-hour timeframe supply zone also just happens to overlap the 88% of the Fibonacci retracement level, increasing the confluence in favor of a bearish outcome. In order to short APPLE, it would be crucial to wait for price to properly tap into the supply zone first, so as to ensure that the current consolidation gets resolved before an entry is made.
Analyst’s Expectations:
Direction: Bearish
Target: 205.38
Invalidation: 238.27
GM – H4 Timeframe
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I love the SBR (Sweep, Break, Retest) pattern, I’m sure you know that already. General Motors stock chart on the 4-hour timeframe just so clearly presents such a case. The supply zone at the 88% of the Fibonacci retracement is my area-of-interest for an entry. The presence of a Fair Value Gap (FVG) right before the supply zone is a confidence booster for the bearish sentiment.
Analyst’s Expectations:
Direction: Bearish
Target: 40.66
Invalidation: 51.69
CONCLUSION
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