Below is a technical look at each of the charts.
Apple Daily Chart Analysis: The daily chart above shows the stock is trading in a channel. The channel is sloped upwards, indicating the trend throughout the year has been bullish.
Connecting the highs and the lows together shows a channel. The lines that form this channel may act as support and resistance in the future.
The stock is trading above the 200-day moving average (blue), indicating the stock is trading with bullish sentiment. This indicator may hold as a potential area of support in the future.
What’s Next For Apple? Bullish traders would like to see the stock maintain the channel it’s in. Solid consistent growth is most ideal for bullish investors.
Bearish traders would like to see the stock fall below the bottom of the channel. If the stock were to fall below the channel and consolidate, the stock may see a further downwards push.
Nokia Daily Chart Analysis: The daily chart shows the stock is trading in a sideways channel. The stock did see a large spike out of the channel recently but fell back into the trading range of the channel.
The bottom of the channel is drawn by previous lows and may act as support. This support area may be near the $3.75 price level.
The top of the channel is drawn by connecting previous highs and may act as resistance. This resistance may be near the $4.50 level.
What’s Next For Nokia? Bullish traders would like to see the stock build-up to resistance and break above. Consolidation above this area may let the stock see a further push up.
Bearish traders would like to see the stock fall below the support level. If the stock were to fall below this level and consolidate, the price may see a further downwards push.
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Apple Stock – Apple Inc. (NASDAQ:AAPL), Nokia Corporation (NYSE:NOK) – What Do The Charts Say Is Coming Next For Apple, Nokia?
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