Apple Inc. (NASDAQ:AAPL) A new partnership with Salesforce should grow Apple’s iOS enterprise market share

Apple Inc. (NASDAQ:AAPL) A new partnership with Salesforce should grow Apple’s iOS enterprise market share

Apple Inc. (NASDAQ:AAPL) A new partnership with Salesforce should grow Apple’s iOS enterprise market share

Apple (NASDAQ:AAPL) and Salesforce (NASDAQ:CRM) are joining forces in a partnership that makes Apple stock even more attractive as a long-term holding.

On Sept. 24, the two technology giants announced that Salesforce would be working with Apple to redesign its app to have exclusive new features on iOS. Moreover, the two companies are working together to provide tools for Salesforce developers to build their own native apps.

Essentially, Salesforce is choosing Apple as its “preferred IoT ecosystem.” That is a good thing for Apple stock.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 229.80.

The projected lower bound is: 212.96.

The projected closing price is: 221.38.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.

If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with APPLE INC), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.

Momentum Indicators

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 48.0703. This is not an overbought or oversold reading. The last signal was a buy 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 54.63. 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 12 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 -55. This is not a topping or bottoming area. The last signal was a buy 2 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 sell 11 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 3.130 at 220.790. Volume was 4% above average (neutral) and Bollinger Bands were 26% narrower than normal.

Open High Low Close Volume___
216.820 221.260 216.630 220.790 27,693,358

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 220.81 210.68 185.50
Volatility: 31 26 27
Volume: 40,517,300 30,412,426 30,953,596

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 is currently 19.0% above its 200-period moving average and is in an downward 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 bearish on AAPL.O and have had this outlook for the last 3 periods.

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