Apple shares close higher on Wednesday, company hires a team of biomedical engineers in relation with diabetes treatment

According to sources with knowledge of the matter, cited by CNBC, a team of biomedical engineers has been hired by Apple Inc. (AAPL) in relation with a secret initiative, focusing on development of sensors for diabetes treatment. The team is to be located at a nondescript office in Palo Alto, California, in proximity to the corporate headquarters, the same media reported. A spokesperson for Apple, however, refused to comment on the news.

Apple shares closed higher on Wednesday, while marking their first gain in the past six trading sessions. The stock edged up 0.12% ($0.17) to $141.80, with the intraday high and the intraday low being at $142.15 and $141.01 respectively. In the week ended on April 9th the shares of the technological company lost 0.22% of their market value compared to a week ago, which marked the second drop in the past fourteen weeks, but yet, the smallest one since the week ended on July 24th 2016. The stock has pared its slump to 1.29% so far during the current month, following a 4.87% surge in March. The latter has been a fourth consecutive month of gains. For the entire past year, Apple shares gained 10.03%.

In 2016, GlaxoSmithKline Plc and Alphabet Inc announced the foundation of a joint venture focused on marketing bioelectronic devices, which are attached to individual nerves in order to aid fighting against particular illnesses.

At the same time, other US biotech companies, such as EnteroMedics Inc and Setpoint Medical have already reported early benefits of their work in the area of bioelectronics, as they aim at rheumatoid arthritis treatment.

According to CNN Money, the 38 analysts, offering 12-month forecasts regarding Apple’s stock price, have a median target of $155.00, with a high estimate of $185.00 and a low estimate of $120.00. The median estimate is a 9.31% surge compared to the closing price of $141.80 on April 12th.

The same media also reported that 28 out of 43 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 10 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Apple stock are presented as follows:

R1 – $141.90
R2 – $142.01
R3 (Range Resistance – Sell) – $142.11
R4 (Long Breakout) – $142.43
R5 (Breakout Target 1) – $142.79
R6 (Breakout Target 2) – $142.95

S1 – $141.70
S2 – $141.59
S3 (Range Support – Buy) – $141.49
S4 (Short Breakout) – $141.17
S5 (Breakout Target 1) – $140.81
S6 (Breakout Target 2) – $140.65

By using the traditional method of calculation, the weekly levels of importance for Apple Inc. (AAPL) are presented as follows:

Central Pivot Point – $143.95
R1 – $144.85
R2 – $146.36
R3 – $147.26
R4 – $148.16

S1 – $142.44
S2 – $141.54
S3 – $140.03
S4 – $138.52