Source: PaxForex Premium Analytics Portal, Technical Insight

Against the background of strengthening antitrust control by the U.S. regulatory authorities, Apple has announced the renewal of its ecosystem App Store. While the company usually shares some of the indicators of the App Store during its main report WWDC, today it details the results of a new study, which states that the ecosystem of the App Store contributed to the profit of 519 billion dollars in 2019. It is a new and broader measure than previously reported because it includes all transactions that the company receives, not just those for which Apple charges.

Apple, H4

Pivot: 343.03

Analysis:

Provided that the asset is traded below 349.20, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 343.03
• Take Profit 1:  335.60
• Take Profit 2: 332.20

Alternative scenario: 

In case of breakout of the level 349.20, follow the recommendations below:

• The timeframe: H4
• Recommendation: long position
• Entry point: 349.20
• Take Profit 1: 354.80
• Take Profit 2: 358.20

Comment:

RSI above 50. MACD is positive and above the signal line. The configuration is positive. Apple trades above 20-period moving average (338.87), but below 50-period moving average (343.08).

Key levels:

Apple, D1

Pivot: 337.18

Analysis:

While the asset is traded above 326.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 337.18
• Take Profit 1: 354.50
• Take Profit 2: 386.00

Alternative scenario:

If the level 326.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 326.00
• Take Profit 1: 300.00
• Take Profit 2: 288.00

Comment:

RSI shows an uptrend. 

Key levels:

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

Pivot: 117.08

Analysis:

While the asset is traded above 104.20, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 117.08
• Take Profit 1: 130.10
• Take Profit 2: 136.10

Alternative scenario:

If the level 104.20 is broken-down, follow the recommendations below.

• Time frame: H4
• Recommendation: short position
• Entry point: 104.20
• Take Profit 1: 94.70
• Take Profit 2: 89.10