J.P. MORGAN RAISES PRICE TARGET OF APPLE, STOCK RISES
Apple’s stock is currently trading at 224.22-higher by 2.46% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.76%. The stock has continued gaining after the opening bell.
Investment bank J.P. Morgan today hiked its price target on stocks of iPhone maker. The investment bank raised its price target on Apple to $265 per share to $243 a share. J.P. Morgan’s price target represents an upside of about 21% from the stock’s previous closing price. The investment bank expects the iPhone maker’s stocks to jump 21% as sales of its new line of iPhone were better than muted expectations. Stocks of Apple have gained 10.6% over the past three months.
On the technical front, the RSI is currently at 62.31% and suggests that the market can move in the upward direction. The current price is above the MA5. The %K has crossed the %D from below to the upside at around 55% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 224.00 TAKE PROFIT AT 225.00 STOP LOSS AT 223.50