Apple’s Stock Price to Possibly Hit a Blockade Rapidly

CALIFORNIA, United States – The stock price of Apple Inc., a renowned US technology company, continues to grow every month. One market analyst from the US provides warning on how this company can be a victim of its own success.

There’s a continuous growth on the share price of Apple Inc. month by month, which makes the stock grow further as well. Since the earlier update, there was an additional 4% from the blue-chip stock to its share price. As of the moment, it’s exchanging at a high price of 280.09 USD per share. This is the price as of Monday, wherein it increased from 264.99 USD from December 5-record.

During this year, the stock price rose steeply to 74%, wherein it added 473 billion USD to the capitalization of its market during the process. It leads people to question how high the share price can go.

On the other hand, the bubble might decrease a little in January 2020. This statement was according to the chief market technician of MKM Partners named JC O’Hara.

On December 17, O’Hara warned that the momentum of the growth of Apple Inc’s might crash to a hard wall anytime soon. As per him, he stated at CNBC on Friday that the momentum was strong. He also shared during the “Trading Nation” about their concern, wherein it might leave the famous technology company vulnerable.

From where Apple Inc.’s trading is, O’Hara compared this technology company’s share price to the 200-day moving average. He highlighted that the level is 28% above average. Moreover, he mentioned that the stock of the S&P 500 is 5% over the 200-day average.

O’Hara stated that, based on the significant figures, the stock of Apple Inc. tended to be weak in the following months, next to a peak. He added that they are not negative on the technology company. The analyst clarified that they think it might be susceptible to a slight back-and-filling. Furthermore, he said that the company might be a victim of its triumph in its situation.

To this point, the theory of the market analyst didn’t happen yet, based on how the share price of the tech giant finished a high record in the market on Monday.

China and the US reached an agreement on exchange tariffs. The uncertainty of the general stake market seems to be stumpy in the US currently. This statement is coming from the Volatility Index.

The Volatility Index measures the market expectations of investors beyond the following 30 days on the US S&P 500. Right now, it stands at about 12, which have pointed more significant than the historical low.

Several analysts from the US think that the exchange agreement will endure having an optimistic effect on the local market, which includes Apple Inc.