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13.09.202312:44 Forex Analysis & Reviews: Technical analysis on AAPL stock price for September 13th, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 13.09.2023 analysis

Red line- resistance

Green line - support

Blue lines- Fibonacci retracement levels

AAPL stock price closed yesterday around $176. After the new iPhone presentation we find the stock price still vulnerable from a technical perspective. Price has formed a lower high at $189 and as long as we trade below this level, we expect price to make a bigger pull back. At $171.80 we find short-term horizontal support from the recent lows. Price is vulnerable to a pull back towards the 38% Fibonacci retracement if not a deeper pull back towards $162. The entire upward move December is most probably complete and this is the time for a corrective pull back. That is why we use the Fibonacci retracement tool to identify key support levels. Bulls need to respect the green support trend line and break above the red one. Until then price is vulnerable to more downside.

Alexandros Yfantis
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