In the realm of technology, uttering the term "Artificial Intelligence" is akin to invoking the enchantment of "Open Sesame" from the fabled tale of Alibaba and the 40 thieves. It's a phrase that unlocks a trove of treasures, not in gold and jewels, but in staggering financial gains. Just recently, this magical incantation summoned a staggering $112 billion in a single day for Apple.
But the story doesn't end there. Will the riches continue to flow, reaching the coveted $180 mark? Without a doubt! The stock surged to a high of $178, only to be rebuffed by the steadfast 200-day Exponential Moving Average (EMA) on the daily chart. With a closing price of $176.5, the goal of $180 now sits tantalizingly close, a mere 2% away.
Reflecting on the past, the $168 level emerges as both a resistance and a support. Despite a brief dip below $168, the stock rebounded vigorously, hinting that Apple may have indeed found its footing. It could linger near the 200 EMA momentarily, gathering strength before propelling itself upwards.
Comments