7/2/2024 CBAS Weekly Newsletter and Stock Analysis

Recent Market Growth

• The S&P 500 and Nasdaq saw moderate growth; under normal/expected circumstances

• Latest unemployment figures remains steady
  

(^6/27/24 gdp and unemployement numbers. Credits: Forex Factory

1st column: Actual reported numbers; 2nd column: Forecasted; 3rd column: Previous report)

• Fear and greed as of 7/2/24: Neutral

• The tech sector had some strong gains past week and Monday, strong performances from semiconductor companies.

Watchlist*:

TSLA (Earnings 7/23), NVDA, AAPL

Long term watchlist*:

Blue chips like Apple, Johnson Johnson, and Coca Cola continue to be great long term investments. Nice dividends at 2-3% annual yields.

Stock Analysis of AAPL*:

(^M15 Chart of AAPL on TradingView.)

(^H1 Chart of AAPL)

Looking at price action, the price has been generally trending upwards after bouncing from a low around $206. The 200 EMA is currently at around $214. Since the price is trading above the 200 EMA in both time frames, AAPL is most likely in a bullish trend.

The overall volume (H1 Chart) appears mostly stable without significant spikes, suggesting no major buying or selling pressure currently. I would put my support and resistance levels as follows:

Support: Around $214 (close to the 200 EMA), $210 (consolidation area), and $206

Resistance: Around $220 (current price level), $237 (fib level)

These levels are within close range with fib retracement levels from previous spike.

(^AAPL H1 Chart with fib retracement levels)

Possible swing position based off technicals*:

(Assuming current market sentiment)

Entry: 214ish

S/L: 209.5

T/P: 225, 230, 237

Stay tuned for more updates and exciting developments in the world of Business and Stocks!

*All information provided by CBAS is for educational purposes only. All information provided by CBAS is not to be taken as financial advice. All trades and financial decisions made by viewers and users, of CBAS and its content provided, are to be taken at their own risk. CBAS and its affiliated people are not to be held liable for any losses or damage incurred from/by the viewer/user.