Apple is going to rise after the launch of Iphone 15 pro. The reason being is the growth prospect on the forecasts of the Apple financials. That being said, the market needs to continue moving up once it starts its pave way towards the higher side. We are looking for some bullish price action at this given current support in order to align with the technical factors. The market is forming double bottom. If Apple hits our profit target, we will get 9%.

The descending trendline is the area where the market can either retest or break the level. 

EMA 50 is bearish right now and we can partially set the profit target at the retest of the EMA 50. This needs to be breached in order to continue its upheaved move.

RSI is at 38. It is forming a bullish divergence which will act as a catalyst for the market to continue moving down towards the support level.

Apple 9% trade setup

Sep 22 2023