As we move forward to the middle of November, shares of the iconic iPhone maker are trading at $117.13, which is 15 per cent down from its peak of $137.98 at the beginning of September.
The two-month bearish trend follows the big news about Apple becoming the first US company to surpass $2tr in market capitalisation in August.
During the hectic election week, AAPL stock surged from $107.3 to $119 in four days. Apple shares found strong support at the $100 level, and there is a view that Apple will climb up to $120 in the coming weeks. If the price surges above this level, this may serve as a clear buy signal as the stock will be able to move up to $135.
Otherwise, if the price goes below $100, this should be considered as a sell signal, with the price potentially going down to $90.
Looking forward to the Apple share price prediction, we can see that 36 analysts, surveyed by CNN Money, offer the median price target for Apple stock at $133 within the next 12 months, which represents almost 15 per cent growth from its previous closing price of $115.
The highest analysts’ target for Apple stock projections is $150 and the lowest one is $74.10. Still, 39 analysts sharing their consensus rating for AAPL stock in 2021 agree that it is a buy.
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players.
The Company sells a range of related software, services, accessories, networking solutions, and third-party digital content and applications.
The Company’s segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific.
The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa.
The Greater China segment includes China, Hong Kong and Taiwan.
The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Company’s other operating segments.
Its products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 129.28.
The projected lower bound is: 108.65.
The projected closing price is: 118.97.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 55.4417. This is not an overbought or oversold reading. The last signal was a sell 2 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.68. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 49 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 105.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 4 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed down -0.280 at 119.210. Volume was 35% below average (neutral) and Bollinger Bands were 36% narrower than normal.
Open High Low Close Volume 119.620 120.530 118.570 119.210 103,350,672
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 115.17 115.12 92.34 Volatility: 53 56 61 Volume: 130,832,960 150,945,552 169,044,208
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
APPLE INC is currently 29.1% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of AAPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 5 periods.