Apple shares (NASDAQ:AAPL) are currently bullish, following the recent bearish journey it underwent. That bearish journey has ended and a bullish signal has already been formed.
From November 2020, to the end of January 2021, the bias was bullish. But after that, the market plummeted until the end of March 2021. And starting from April, a strong bullish signal has formed and that is expected to hold out for most of the rest of this year.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are currently sloping upwards, overall, plus price is essentially above them.
As long as price does not go below the EMA 50, the current bullish signal will remain effectual, and as long as the EMA 200 is not breached to the downside, the general bias will remain bullish. The best stance on AAPL is to go long, as the general movement for the price is bullish for the year 2021.
Our targets remain at 140.00, 150.00 and 160.00.
Teach Yourself Technical Analysis: Technical analysis
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