Apple Inc. (NASDAQ:AAPL) a Lot More to Run
To be honest, I’m still not 100% sold on Apple (NASDAQ:AAPL) despite the huge rally in Apple stock of late. The AAPL stock price has risen 49% over the past year, adding over $360 billion in market value.
The catalysts for the rally are twofold. First, the market seems to be far less concerned about so-called commoditization of the iPhone. The long-held bear case for Apple stock was that lower-priced competition eventually would be good enough.
From that standpoint, the recent rally in Apple stock is particularly intriguing. The stock did see some initial modest weakness after the launch of the iPhone XS but it has rallied strongly the past few weeks to yet another all-time high.
At least in the early going, that suggests the correlation between launch cycles and the AAPL stock price might be over. And recent news explains why investors are more bullish this time around and might stay that way.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 237.53.
The projected lower bound is: 219.78.
The projected closing price is: 228.65.
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 27 white candles and 23 black candles for a net of 4 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 74.3417. This is not an overbought or oversold reading. The last signal was a sell 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 59.77. 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 20 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 97. This is not a topping or bottoming area. The last signal was a sell 0 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 3 period(s) ago
Rex Takasugi – TD Profile
APPLE INC closed down -4.080 at 227.990. Volume was 17% above average (neutral) and Bollinger Bands were 3% narrower than normal.
Open High Low Close Volume___
230.780 232.350 226.730 227.990 32,042,000
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 224.84 216.17 187.66
Volatility: 22 27 27
Volume: 33,467,554 31,837,584 30,919,290
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 21.5% 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 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 2 periods.