The bullish chash promoted by the good quarterly results and its upward update in its forecasts for the coming years has led the share price to set new all-time highs. In fact, the stock has temporarily joined the select club of companies with a capitalization of more than one trillion dollars.
However, the stock is beginning to show the first signs of trend exhaustion. The 438 dollar zone has stopped the stock, a reference that should be overcome soon if it wants to give continuity to the current upward movement. The strong overbought accumulated in both daily and weekly charts conditions its short-term evolution. Below, the $400 zonal level is the support to watch. Its loss at daily closing prices would confirm a first sign of weakness, a handicap that could trigger the beginning of a corrective leg in search of the lower part of the bullish breakout gap left in mid-May around 320 dollars zonal.
Supports: $438 dollars
Resistances: 420, 400, 385, 360 320 dollars
Targets:(bullish) 440, 470 (bearish) 400, 360, 320, 300 zonal dollars