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Tuesday, February 11, 2014

Annual Trading Forecast on Apple (2014)

After an exponential drop in January 2014, Apple shares (NASDAQ:AAPL) are trying to shrug off further southward pulls, as they trend northward. Is this sustainable?

Should the price go determinedly upwards, now would be a good entry point for the bulls. The RSI period 14 is almost crossing the level 50 to the upside, and by the time the price breaches the resistance level at 540, the RSI would have reached the level 50. A break above the upper Trendline is also a confirmation of the northward outlook.

Conclusion:  In this year, it is possible that Apple would test the resistance levels at 540, 560 and 580. Some trading approaches follow dominant trends, and a result of this, the approaches would not pull their weight when a dominant trend enters an equilibrium phase. We want to play a market that showcases a stable bias: a dependable directional movement and false breakouts that are few and far between.

This forecast is ended with the quote below:

“As important as position sizing strategies are to trading success, your psychology is even more important.” – R.J. Hixson

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Eye-opening trading lessons: Lessons from Expert Traders


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