| 
July 01, 2023
After closing at $189.59 Thursday, Apple gained $4.38 yesterday and hit a new record high of $194.48.
Meanwhile, United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7. United States Core PCE Price Index (MoM) (May) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.4. United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -208,300, while the previous figure was -239,300.
The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control. Apple's upper Bollinger Band® is at $193.79, this is a slight indication of a slowdown. Although Apple is appreciating today after rising as high as $194.48, price action is now slowing and consolidating around $1.24 below the $195.21 resistance level.
Technical analysis suggests there could be an imminent reversal for Apple.
A look at other technology stocks also showed bullish price action as NVIDIA was up 3.63%. ServiceNow added 2.53% to its value, and traded at $561.97. Microsoft traded at $340.54 after closing yesterday's trading day at $335.05 (up 1.64%).
The stock has been trending positively for about 3 months. The sleek smartphone manufacturer has fallen back around 2.26% from the significant high of $193.97 set a day ago.
