Apple is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The stock has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 157. Further rise to 193 or more is signaled. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 175 dollar. RSI above 70 shows that the stock has strong positive momentum in the short term. Investors have steadily paid more to buy the stock, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The stock is overall assessed as technically positive for the medium long term.
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