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.
- For the Quarter ending in March, Apple posted record revenue of $89.6B vs $77.4B expected, up 54% year over year. Quarterly earnings per share were $1.4% vs $0.99 expected. Services revenues also topped expectations with $16.9B vs $15.7B expected which was the best quarterly result in Apple’s history.
- EVENTS: At its April event the company announced all-new iMac models, AIrTag item trackers and a new M1-powered iPad Pro. The next Apple’s event “Worldwide Developers Conference'' is expected to take place around June 7, but it wouldn't be a rare case if the company announced its new products even before the event and it’s assumed that it could be the new 14in version of MacBook Pro.
- Apple is planning to enter the EV market and is currently in early talks with several major automakers about possible collaboration.
- Apple shares have fallen about 6% since the beginning of the month due to the general retreat of the stock market, despite the impressive earnings results. The price is currently 8% higher since mid-March (last 2 months) but still 15% lower than the previous height reached on January 27 ($144.95).
- Morgan Stanley's target on Apple stock is $161, Wall Street analysts remain bullish on Apple stock with medium target at $160 while Bloomberg medium target is $157.
Apple, May 12, 2021
Current Price: 125.14
|
Apple |
Weekly |
|
Trend direction |
|
|
144.00 |
|
|
138.00 |
|
|
134.00 |
|
|
117.50 |
|
|
114.00 |
|
|
110.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
Apple |
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|
Pivot Points |
||||||
|
Profit or loss in $ |
1,886.00 |
1,286.00 |
886.00 |
-764.00 |
-1,114.00 |
-1,514.00 |
|
Profit or loss in €** |
1,554.18 |
1,059.74 |
730.12 |
-629.58 |
-918.01 |
-1,247.63 |
|
Profit or loss in £** |
1,333.99 |
909.61 |
626.68 |
-540.39 |
-787.95 |
-1,070.87 |
|
Profit or loss in C$** |
2,280.97 |
1,555.31 |
1,071.55 |
-924.00 |
-1,347.29 |
-1,831.06 |
* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 12:50 (GMT+1) 12/05/2021
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