Amphenol stock (APH) price chart shows breakout as the price retested the neckline of $82, demonstrating a strong chart structure in the last few trading sessions. Moreover, the price is trading beyond the significant moving averages and shows the buyers’ strength. However, sellers remained cautious in the battle and waited for a fall to show their presence. But looking at the surge, they were covering their positions and remained on the back foot. Furthermore, buyers persisted in making long positions and gradually headed toward $100.
The price action showed an ascending triangle breakout above the neckline of $80. Moreover, buyers successfully defended the lower trendline decisively. Furthermore, the range has broken out, and APH stock is ready to go above the boundaries, as the price is trading in uncharted territory, where the upside is free for the buyers to catch till $100. In contrast, the downside is protected till the 50-day EMA mark near $75.
Amphenol Corp. designs, manufactures, and markets electrical, electronic, and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and specialty cables. It operates through the following segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.
The Harsh Environment Solutions segment manufactures and markets a broad range of ruggedized interconnect products, including connectors and interconnect systems, printed circuits, printed circuit assemblies, and other products for use in the industrial, military, commercial aerospace, automotive, mobile networks, and information technology, and data communications end markets.
APH stock was traded at $83.62 at press time with an intraday drop of 0.10%, showing neutrality in the last trading session. Moreover, the intraday trading volume was 1.517 Million. The market cap of APH stock is $49.781 Billion.
Daily Charts Shows Buyer Dominance
On the daily charts, APH stock stayed on the top, near the supply zone, holding the gains convincingly. Buyers have an edge and have dominated the past few trading sessions. Moreover, the price persisted in forming higher highs, and sellers were trapped during the rebound.
As per the stock technicals, analysts maintained a buy rating, and the target price of $85 was recently retested, showing the stock’s bullishness.
Short Term Charts Shows Retesting of Range
On the 4-hour charts, APH stock traded in the bullish region but noted a retracement to retest its neckline of $82, which was done in the previous session. Now, APH stock is ready for launch, to escape the highs of $85.
The RSI curve fell from the overbought zone and is near 57, showing a negative crossover on the charts.
The MACD indicator also showed red bars forming a bearish crossover and a negative outlook.
Conclusion:
Amphenol stock (APH) is trading in the bullish zone and recently made a high of $85, signalling a positive outlook on the charts.
Technical Levels:
Support Levels:$80
Resistance Levels:$85 and $90
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/07/08/will-amphenol-stock-nasdaq-aph-persist-to-surge-above-85/