Thursday, March 9, 2017

Annual Trading Forecast for Apple (2017)

Apple shares (NASDAQ:AAPL) are a bull market. Price has been going upwards since November 2016 – something that is still in place.

The market gapped upwards at the beginning of February 2017, and trended throughout that month. In this month, price has consolidated so far but when momentum returns to the market, it would most probably be in favor of bulls.

The ADX 14 is at the level 70, showing that the current bullish momentum is very strong. The DM+ is far above the DM-, showing that buyers have upper hands when compared to sellers. The MACD default parameters, has its signal lines far above the zero line, while the histogram is slightly below the zero line.

The fact that the MACD histogram is slightly below the zero line comes as a result of the current consolidation in the market,  but the outlook on Apple remains bullish for this year, as price is expected to reach more and more important resistance levels.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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