Apple weekly uptrend opportunity based On 1.00 Lot Calculation:
- Apple is a US multinational company which engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It is one of the most valuable companies in the world with market capitalization of $2 trillion and expectation for $ 3 trillion by the end of 2021 due to the development of the Apple Car as well as high expectations for the next iPhone.
- Apple is expected to hold its next big event on Tuesday March 23. It is expected that the company will announce devices like the long-rumored smart tracker tag (Apple’s version of Bluetooth tags that could be used to track the attached item using your iPhone), the AirPods 3 (with new improved design) or an iPad Pro (upgraded version). Apple is also rumored to be working on an AR/VR headset and smart glasses.
- For the first quarter Apple reported a 21% rise in revenues to hit all-time record revenue of $111.4B and EPS was up 35%. International sales accounted for 64% of the quarter’s revenue. iPhones sales were up 17 %, Macs up 21 %, iPads 41 %, and wearables 30 %. The $64 billion business on the services alone growing at 24 % a year.
- Apple is planning to enter the EV market and is currently in early talks with several major automakers including Hyundai, about possible collaboration.
- The central bank of Norway drastically increased its investments in Apple. One of the largest pension funds in the world, Canadian Pension Plan Investment Board, which administers the world’s largest sovereign-wealth fund, recently increased its investment in the company also.
- Morgan Stanley's target on Apple stock is $164, WSJ’s medium target is $155.
Apple, March 16, 2021
Current Price: 123.82
|
Apple |
Weekly |
|
Trend direction |
|
|
144.18 |
|
|
138.69 |
|
|
132.98 |
|
|
115.21 |
|
|
111.33 |
|
|
106.81 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Apple |
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|
Pivot Points |
||||||
|
Profit or loss in $ |
2,036.00 |
1,487.00 |
916.00 |
-861.00 |
-1,249.00 |
-1,701.00 |
|
Profit or loss in €** |
1,708.57 |
1,247.86 |
768.69 |
-722.53 |
-1,048.14 |
-1,427.44 |
|
Profit or loss in £** |
1,472.50 |
1,075.45 |
662.48 |
-622.70 |
-903.32 |
-1,230.22 |
|
Profit or loss in C$** |
2,543.94 |
1,857.98 |
1,144.52 |
-1,075.80 |
-1,560.60 |
-2,125.37 |
* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 12:05 (GMT) 16/03/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail