Apple’s stock price opened with a gap-down of 0.5 percent in yesterday’s trading sessions. However, intraday trading was relatively bullish, which pushed the stock price to close the markets with a small gain for the day.
The continued gain of Apple comes amidst reports that the company may be launching the iPhone 14 and iPhone 14 Pro sooner than expected. According to reports, brands such as iPhone 14, iPhone 14 Max, iPhone 14 Pro, and iPhone 14 Pro Max, three new Apple Watch models, and AirPods Pro 2 may be coming into the markets sooner than expected.
Apple was expected to release the new models on Tuesday, September 13, but according to Max Weinbach, an established leaker and commentator, the release date is likely to come sooner than expected.
The upcoming iPhone release is expected to be a huge boost for Apple stocks. Its impact on the markets is also expected to be huge, with many anticipating its stock price to rise significantly.
Apple Stock Price Analysis
Looking at the chart below, the Apple has been in an aggressive bullish move since June 16th, which has resulted in prices surging by 27 percent to date. The chart also shows that despite Apple’s stock price drop on Monday and yesterday’s small market gains, the long-term trend for Apple is still aggressively bullish.
Therefore, with the upcoming iPhone launch and its continued overperformance in the markets, I expect the Apple stock price to hit the 179 supply level. There is also a high likelihood that we will see Apple trading above the level and pushing upwards to trade past $200 for the long-term.
However, if the Apple stock price trade below this month’s price low of $159, then my bullish analysis will be invalidated. At that point, the likelihood of Apple’s Stock price starting a bearish trend will be high.
Apple Daily Chart
