Apple shares gain the most in two weeks on Tuesday, company removes a number of applications in China

A number of applications, including Skype and Microsoft’s internet phone call & messaging service, have reportedly been removed from Apple Incs app store in China, as the states government cited domestic regulation violations. Meanwhile, several China-based users filed complaints following the app removal, as they could not pay for Skype’s services via Apple.

Apple shares closed higher for the second time in the past nine trading sessions on Tuesday. It has also been the sharpest daily surge since November 3rd. The stock went up 1.86% ($3.16) to $173.14, after touching an intraday high at $173.66, or a price level not seen since November 13th ($174.50).

In the week ended on November 19th the shares of the technological company lost 2.59% of their market value compared to a week ago, which marked the first drop out of four weeks. It has also been the worst performance since the week ended on September 24th.

However, due to yesterdays gain, the stock has extended its advance to 2.43% so far during the current month, following a 9.68% surge in October. The latter has been the third gain in the past four months.

For the entire past year, the shares of the NASDAQ-listed company rose 10.03%. The stock has gained another 49.49% so far in 2017.

“We have been notified by the Ministry of Public Security that a number of voice over internet protocol apps do not comply with local law, therefore these apps have been removed from the App Store in China”, a spokesperson for Apple Inc was quoted as saying by Reuters.

Skype extended a list of internet platforms, access to which has been blocked for China-based users. Other platforms on the list include Facebook, Twitter and Alphabets Google services.

Last year Chinas government imposed new rules on on-line publication, which prohibit foreign ownership and joint ventures and also require all content to be stored on domestic servers.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $192.50, with a high estimate of $235.00 and a low estimate of $148.00. The median estimate is an 11.18% surge compared to the closing price of $173.14 on November 21st.

The same media also reported that 26 out of 37 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 5 – 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 – $173.39
R2 – $173.64
R3 (Range Resistance – Sell) – $173.90
R4 (Long Breakout) – $174.65
R5 (Breakout Target 1) – $175.54
R6 (Breakout Target 2) – $175.93

S1 – $172.89
S2 – $172.64
S3 (Range Support – Buy) – $172.38
S4 (Short Breakout) – $171.63
S5 (Breakout Target 1) – $170.74
S6 (Breakout Target 2) – $170.35

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

Central Pivot Point – $171.09
R1 – $173.73
R2 – $177.30
R3 – $179.94
R4 – $182.57

S1 – $167.52
S2 – $164.88
S3 – $161.31
S4 – $157.73