Apple Inc. (NASDAQ:AAPL) Will The iPhone 8 Push Apple to $1Trillion?

Apple Inc. (NASDAQ:AAPL) Will The iPhone 8 Push Apple to $1Trillion?

Apple Inc. (NASDAQ:AAPL) Will The iPhone 8 Push Apple to $1Trillion?

  • HEFFX target confidently stays at $200
  • Apple just became the first US company to surpass $800 billion in market capitalization.
  • Apple is beginning to move employees to ‘Apple Park’
  • 2017 is the 10th anniversary of the iconic smartphone
  • “We expect the iPhone 8 to have 128GB and 256GB models priced at $999 and $1,099, respectively,” said Goldman Sachs

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 143.79.

The projected upper bound is: 159.90.

The projected lower bound is: 152.99.

The projected closing price is: 156.44.

APPLE INC closed up 2.150 at 156.100. Volume was 22% above average (neutral) and Bollinger Bands were 95% wider than normal.

Open           High             Low              Close          Volume
154.700      156.420       154.670       156.100       32,527,016

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period           50-period        200-period
Close:                       150.70                143.55              122.72
Volatility:                20                       15                      20
Volume:                   34,882,228      24,431,842      30,537,934

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.

Summary
APPLE INC gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.

APPLE INC is currently 27.2% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into AAPL.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 11 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an overbought condition.

HEFFX Momentum
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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 88.3238. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 6 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 80.70. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 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 131.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 12 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 12 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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