Shares of Apple Inc. AAPL, -0.95% slumped 0.96% to $115.75 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the NASDAQ Composite Index COMP, +0.18% rising 0.19% to 11,506.01 and the Dow Jones Industrial Average DJIA, +0.54% rising 0.54% to 28,363.66. This was the stock’s second consecutive day of losses. Apple Inc. closed $22.23 short of its 52-week high ($137.98), which the company achieved on September 2nd.
The stock underperformed when compared to some of its competitors Thursday, as Microsoft Corp. MSFT, +0.04% rose 0.04% to $214.89, Alphabet Inc. Cl A GOOGL, +1.30% rose 1.30% to $1,606.66, and International Business Machines Corp. IBM, +0.60% rose 0.61% to $115.76. Trading volume (101.1 M) remained 67.2 million below its 50-day average volume of 168.3 M.
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: 125.79.
The projected lower bound is: 105.82.
The projected closing price is: 115.80.
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.
An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with APPLE INC). It then signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.
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 21.1088. This is not an overbought or oversold reading. The last signal was a buy 0 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 48.73. 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 34 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 -49. This is not a topping or bottoming area. The last signal was a sell 5 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 sell 1 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed down -1.120 at 115.750. Volume was 100% below average (consolidating) and Bollinger Bands were 40% narrower than normal.
Open High Low Close Volume 117.450 118.040 114.590 115.750 51,561
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 118.95 117.42 89.64 Volatility: 47 53 60 Volume: 131,714,000 168,270,336 169,588,176
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 low 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 6 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.