Apple shares close higher on Friday, tech giant to open new store in Singapore

Apple Inc (AAPL) was poised to open its first store in Singapore on the city state’s prime Orchard Road shopping boulevard, Reuters reported. The tech company has already expanded its presence in the Asian Pacific area, with its retail stores being located in Japan, China, Hong Kong, Australia and Macau.

Apple shares registered their largest daily surge since May 1st during Friday’s trading session. The stock went up 1.66% ($2.43) to $148.96, after touching an intraday high at $148.98 and also a fresh all-time high. In the week ended on May 7th the shares of the technological company added 3.70% to their market value compared to a week ago, which marked a third consecutive period of gains and also the best performance since the week ended on February 5th. The stock has extended its advance to 3.70% so far during the current month, following a mere 0.01% decrease in April. The latter has been the first monthly retreat since November 2016. For the entire past year, Apple shares gained 10.03%.

A white facade visualizing a huge red Apple logo beside a heart and a red dot has for some time been covering Knightsbridge Mall’s storefront.

According to Straits Times newspaper, barricades outside the store were taken away on Wednesday night, which hinted on its upcoming opening.

According to CNN Money, the 38 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $158.00, with a high estimate of $185.00 and a low estimate of $120.00. The median estimate is a 6.07% surge compared to the closing price of $148.96 on May 5th.

The same media also reported that 28 out of 43 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 10 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Apple stock are presented as follows:

R1 – $149.16
R2 – $149.37
R3 (Range Resistance – Sell) – $149.57
R4 (Long Breakout) – $150.18
R5 (Breakout Target 1) – $150.89
R6 (Breakout Target 2) – $151.21

S1 – $148.76
S2 – $148.55
S3 (Range Support – Buy) – $148.35
S4 (Short Breakout) – $147.74
S5 (Breakout Target 1) – $147.03
S6 (Breakout Target 2) – $146.71

By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:

Central Pivot Point – $147.40
R1 – $150.54
R2 – $152.11
R3 – $155.25
R4 – $158.38

S1 – $145.83
S2 – $142.69
S3 – $141.12
S4 – $139.54