Apple shares gain the most in a week on Thursday, company moves closer to opening retail stores in India

Apple Inc (AAPL) was reported to be moving closer to opening retail stores and manufacturing units in India, after Chinese smart phone producer Oppo obtained permission to establish single-brand stores of its own in the country.

Apple shares closed higher for the fifth time in the past eight trading sessions on Thursday. It has also been the steepest daily surge since September 26th. The stock went up 1.24% ($1.91) to $155.39, after touching an intraday high at $155.43, or a price level not seen since September 21st ($155.80).

In the week ended on October 1st the shares of the technological company added 1.47% to their market value compared to a week ago, which marked the best performance since the week ended on September 3rd.

The stock has neutralized earlier losses and is now up 0.82% so far during the current month, following a 6.02% slump in September. The latter has been the first drop in three months and also the sharpest one since April 2016.

For the entire past year, the shares of the NASDAQ-listed company rose 10.03%. The stock has gained 34.17% so far in 2017.

According to Seeking Alpha, citing a top Indian bureaucrat, the countrys government is taking into consideration the tax and policy changes, which Apple Inc looked for in order to establish an iPhone assembly unit.

Brands are required to produce 30% of products sold in their stores in the Asian country.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $180.00, with a high estimate of $208.00 and a low estimate of $140.00. The median estimate is a 15.84% surge compared to the closing price of $155.39 on October 5th.

The same media also reported that 24 out of 37 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 7 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

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

R1 – $155.51
R2 – $155.63
R3 (Range Resistance – Sell) – $155.75
R4 (Long Breakout) – $156.12
R5 (Breakout Target 1) – $156.54
R6 (Breakout Target 2) – $156.72

S1 – $155.27
S2 – $155.15
S3 (Range Support – Buy) – $155.03
S4 (Short Breakout) – $154.66
S5 (Breakout Target 1) – $154.24
S6 (Breakout Target 2) – $154.06

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

Central Pivot Point – $152.67
R1 – $156.17
R2 – $158.23
R3 – $161.73
R4 – $165.24

S1 – $150.61
S2 – $147.11
S3 – $145.05
S4 – $143.00