Apple Stock Regains Buying Momentum – Sept. 15, 2014

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Apple Stock Regains Buying Momentum - Sept. 15, 2014

Apple Stock Regains Buying Momentum - Sept. 15, 2014

As predicted in an earlier entry on Apple stock signals, price has bounced off the resistance turned support area near the $97.50/share level, which is also right at the 50 simple moving average support.

Apple stock is now reflecting a return in buying momentum, after bouncing back above the $100/share level last week. Sustained gains could take prices up to the previous highs near the $102/share area or higher.

Apple Stock Forecast

After the initial volatile reaction to the launch of the new Apple gadgets and software, price is showing a resumption of the strong uptrend after the company announced a stock split earlier in the year. MACD is confirming the pickup in buying pressure, as it is showing signs of an upward crossover. Meanwhile, RSI has turned from the oversold zone and is also hinting a possible new leg in Apple stock rallies.

Apart from the iPhone 6 and iPhone 6 Plus announcement, Apple stock is drawing a lot of support from the Apple Watch and the new payment scheme introduced. Some industry experts predict that this might pave the way for revolutionary changes in the mobile and online payment sector, which might weigh on shares of Ebay and PayPal.

Bear in mind that the volatile reaction to the keynote address has been witnessed in past instances and is often followed by a strong bull run for Apple stock. Risk sentiment appears to favor more gains, although US equities might be in for a bit of weakness if geopolitical tension persists.

Later this week, the FOMC will make its interest rate statement and any commitment to keeping stimulus in place might drive equities and Apple stock higher, especially if the Fed also acknowledges recent improvements in the US economy. Recall that US stock indices reached new highs as the US printed strong data recently.

To contact the reporter of the story: Jonathan Millet at john@forexminute.com

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Jonathan Millet is currently the proud CEO of ForexMinute.com, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it offers. He also holds the position of Binary Options Consultant at ForexMinute.com. Before ForexMinute.com was around, Jonathan was a successful Forex dealer and chief market analyst at Forexyard. He has also worked as a Forex trader. His other specialties include advising financial companies of how to stay head of the competition.