APPLE ADVANCES AFTER REPORT OF 3 NEW IPHONES
Apple is currently trading at $219.64 and has gained 0.78% from the last closing. The closing price of Apple on Monday was $218 and has gained about 1% from the previous closing. Apple stocks rose on Monday after Bloomberg published a report regarding Apple’s plans for its next batch of iPhones.
According to reports, Apple will announce three new iPhones during its press event in the next month. Apple has yet to announce the date when it will launch its new phones, though it typically does so in early September. Bloomberg also reported that Apple will launch the iPhones in different colors but didn’t told whether they are newer than the colors Apple already sells. It will launch a 5.8-inch model, the same size as the current iPhone X, along with a more affordable model with a 6.1-inch screen. It will also launch a 6.5-inch display, the largest it has ever included on an iPhone.
On the technical front, the RSI is currently at 77.70% and suggests that the market can move in the upward direction. The %K has crossed the %D from below to the upside at 77.23% and suggests that the market may head upwards. The current price is above the MA5. Overall market sentiment seems to be positive.
TRADE SUGGESTION-LIMIT BUY AT 219.00 TAKE PROFIT AT 220.00 STOP LOSS AT 218.50