Source: PaxForex Premium Analytics Portal, Technical Insight

Apple will again close more than 30 stores in the U.S. due to increased disease rates in several states, CNBC reports. It notes that we are talking about Alabama, California, Georgia, Idaho, Louisiana, Nevada and Oklahoma. Stores are already closed in Florida, Mississippi, Texas and Utah. Apple was one of the first companies to close its stores to prevent the coronavirus from spreading. Recently, stores have started to open in a sanitary environment, but due to the increasing number of infections, the company had to close sales outlets again. The United States is the world's number one Coronavirus distributor: nearly 2.8 million have been infected, 1.1 million have recovered, and 130 thousand people have died. 

Apple, H4

Pivot: 364.83

Analysis:

Provided that the asset is traded above 361.60, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 364.83
• Take Profit 1:  369.80
• Take Profit 2: 372.00

Alternative scenario: 

In case of breakdown of the level 361.60, follow the recommendations below:

• The timeframe: H4
• Recommendation: short position
• Entry point: 361.60
• Take Profit 1: 357.80
• Take Profit 2: 355.60

Comment:

RSI is above its neutral area by 50. The MACD is positive and is below its signal line. Prices may recover in the short term. Apple trades with a 20-period moving average (365.08) but above a 50-period moving average (361.98).

Key levels:

Apple, D1

Pivot: 366.09

Analysis:

While the asset is traded above 344.40, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 366.09
• Take Profit 1: 372.00
• Take Profit 2: 386.00

Alternative scenario:

If the level 344.40 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 344.40
• Take Profit 1: 232.00
• Take Profit 2: 319.00

Comment:

RSI shows an uptrend. 

Key levels:

We also advise you to pay attention to Disney for intra-day trading:

Pivot: 113.01

Analysis:

While the asset is traded below 121.70, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 113.01
• Take Profit 1: 103.30
• Take Profit 2: 98.80

Alternative scenario:

If the level 121.70 is broken-out, follow the recommendations below.

• Time frame: H4
• Recommendation: long position
• Entry point: 121.70
• Take Profit 1: 129.50
• Take Profit 2: 134.10