Shares of Apple Inc (AAPL) hit a fresh record high during Tuesdays trade amid heightened expectations regarding the upcoming product launches by the company.
Apple shares closed higher for a third consecutive trading session on Tuesday. The stock went up 0.89% ($1.44) to $162.91, after touching an intraday high at $163.12 and also a fresh all-time high. In the week ended on August 27th the shares of the technological company added 1.50% to their market value compared to a week ago, which marked a fourth consecutive period of gains. The stock has extended its advance to 9.53% so far during the current month, following a 3.27% surge in July. The latter has been the smallest monthly gain since October 2016. For the entire past year, the shares of the NYSE-listed company rose 10.03%. The stock has gained 40.66% so far in 2017.
Apples highly anticipated iPhone 8 is scheduled to be revealed on September 12th 2017. At the same time, the companys Watch Series 3 that would feature cellular connectivity and capability for independent operation of an iPhone, is to be unveiled at a launch event in September as well.
Yesterday Apple was reported to have formed a partnership with Accenture plc in order to enhance iOS applications used by Apples iPhone and iPad devices.
Some experts considered the move as being the tech giants latest attempt to attract a wider business clientèle.
According to CNN Money, the 33 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $176.00, with a high estimate of $208.00 and a low estimate of $131.00. The median estimate is an 8.04% surge compared to the closing price of $162.91 on August 29th.
The same media also reported that 23 out of 38 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 9 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Apple stock are presented as follows:
R1 – $163.19
R2 – $163.47
R3 (Range Resistance – Sell) – $163.75
R4 (Long Breakout) – $164.60
R5 (Breakout Target 1) – $165.58
R6 (Breakout Target 2) – $166.03
S1 – $162.63
S2 – $162.35
S3 (Range Support – Buy) – $162.07
S4 (Short Breakout) – $161.22
S5 (Breakout Target 1) – $160.24
S6 (Breakout Target 2) – $159.79
By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:
Central Pivot Point – $158.57
R1 – $162.03
R2 – $164.20
R3 – $167.66
R4 – $171.12
S1 – $156.40
S2 – $152.94
S3 – $150.77
S4 – $148.60
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