Apple Stock Price Prediction on 4-Hour Price Scale, Will it be Reliable for These Bulls?

Apple stock price rose above a long-term bearish trend line on Tuesday, October 18.
On 18 October, buyers saw a gap-up price opening, thus up to 1.9% in the green zone.
Apple stock price struggles on the 50-day moving average in the intraday trading session.

Undoubtedly the price of Apple stock is falling since its 150-day high of $176.14. From this top, the asset price is performing poorly below the downsloping trendline (white). Buyers often failed to keep the stock prices close to this resistance line but eventually they did. After a long, short-term outlook, Apple’s share price is under control of the bulls.

During the continued downtrend, buyers lost around 24% of the cost, until the price noted a 90-day low of $134.37 on 13 October 2022. The day was extremely volatile in the past few months so far, in fact, there was a 2.47% increase in buyers. same day. Later, buyers barely manage higher areas as of now, but still require more value accumulation from buyers.

In the last few days, speculators have been witnessing the roller-coaster ride due to gape-up and gape-down price opening. It seems buyers are gradually losing control on Apple stock price despite today’s gap-up opening. If prices come back below the bearish trendline, more price drop may occur ahead. Despite the fact, Apple stock price observes at $143.59 mark at press time.

Buyers have set their support near the $130 level. On the other hand, the $150 level will act as the next bullish barrier. Meanwhile, Apple stock price struggled on the 50-day moving average in the intraday trading session. So far, 20 DMA (White) has entered the hedge zone for swing trades. However, trading volume

On the 4-hours price chart, the RSI indicator is crossing a semi-line after forming a high-low formation.

conclusion

Apple’s stock price is failing to manage its October 18 gap-up opening. With the 50 DMA level acting as an immediate resistance, buyers are facing a higher price rejection and today’s selloff could lead to another downside in the week.

Support level – $165 and $130

Resistance level – $150 and $175

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