APPLE STOCKS RISE AFTER CANACCORD RAISES ITS PRICE TARGET
Apple’s stock is currently trading at 226.45-higher by 0.91% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.99%. The stock has erased some of its earlier gains after the opening bell.
Investment bank Canaccord Genuity raised its price target on the company’s stocks to $260 a share from $240 per share on Wednesday. The investment bank, however, reiterated a Buy rating on stocks of Apple. The investment bank’s price target represents an upside of 15.86% from the share’s previous closing price. Canaccord Genuity raised its price target citing surveys showing iPhone 11 strength. The investment bank also believes the September quarter results could come in at the high end of guidance.
On the technical front, the RSI is currently at 60.69% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 226.10 TAKE PROFIT AT 228.00 STOP LOSS AT 225.10