Apple recent earnings highlighted challenges in the Chinese market, key levels that truly matters
Strong iPhone sales, especially with anticipation for AI features in upcoming products, contributed to this quarter’s growth. However, $Apple(AAPL)$ highlighted challenges in the Chinese market, with some ongoing sales volatility
In this previous article, I mentioned that the stock:
attempted to reach its all-time high but closed with a doji formation. This doji suggests profit-taking at the highs.
If the price falls below $231, this bullish breakout attempt could fail
In a previous analysis, I noted that the stock attempted to reach its all-time high but closed with a doji candlestick formation, indicating profit-taking at higher levels. If the price falls below $231, this bullish breakout attempt may fail. Before the earnings release, the price struggled to maintain levels above $231 and failed to break its all-time high.
Post-earnings, the stock traded lower, reaching $222.90 during Asia hours. Key levels to watch:
– Minor support: $218
– Major support: $195
According to my analysis model, if the price does not hold at $218, there could be further correction, with stronger support at $195.
For traders looking to participate in Apple stock before the U.S. market opens, SocGen's Daily Leverage Certificates (DLCs) allow access to Apple’s price movements during Asia hours.
Apple Long DLCs: $APPLE 3xLongSG261006(MACW.SI)$
Apple Short DLCs: $APPLE 3xShortSG261006(PODW.SI)$
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Disclaimer:
This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document has been published for general circulation only.
This advertisement has not been reviewed by the Monetary Authority of Singapore. This post is sponsored by Societe Generale, Singapore Branch. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.
Modify on 2024-11-01 14:48
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