Apple gains 0.75% within $165.65 to $167.41 daily range

A quick look at today: after closing at $165.23 on yesterday, Apple rallied as high as $167.41 but ended the day at $166.47.

At the same time, United States Building Permits (Mar) released today at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. Data from United States concerning Housing Starts was released today at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 7.3% to -0.8% this month. United States Building Permits came out at -8.8%, while a consensus of analysts was expecting -6%.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. On the other hand, note that Apple's upper Bollinger Band® is at $168.25, this is a slight indication of a slowdown. Apple is $1.13 away from testing key resistance at $167.6. Peaking above this level could inspire market bulls and open the path to further gains.

According to technical analysis, it looks as if Apple likely to continue pointing upward in the short term.

This rally in Apple's share price coincided with other technology stocks as NVIDIA was up 2.46%. Oracle traded at $96.47 after closing today's trading day at $95.59 (up 0.92%).

While Apple was bullish today, the following technology stocks underperformed: Intel retreats 0.96% today to close at $32.14.

Also worthy of note, United States Crude Oil Inventories expected to decline to -2.46 million while its preceding data was 597,000, data will be available tomorrow at 14:30 UTC.

The stock has been trending positively for about a month. Apple hit a significant low of $125 around 3 months ago, but has since recovered 32.16%.