Apple Inc. (NASDAQ:AAPL) Apple leads Wall St higher
Apple’s gains make it top boost on three major indexes
- open to fresh trade talks with the United States
- Kroger biggest S&P decliner on same-store sales miss
- Indexes up: Dow 0.54 pct, S&P 0.53 pct, Nasdaq 0.92 pct
A rise in Apple led a rebound intechnology shares and boosted all three major stock indexes on Thursday, while trade worries eased after China said it was opento fresh talks with the United States.
The bluechip Dow Jones Industrial Average touched itshighest since Feb.1 and is just about 2 percent short ofall-time high hit on Jan.26. The S&P 500 and the Nasdaq hadalready moved past their January peaks to record highs in priorweeks.
The technology sector .SPLRCT climbed 1.38 percent on theday, the most among the 11 major S&P sectors, boosted by Apple’sAAPL.O 2.9 percent jump.
Apple, which has said tariffs could hit a “wide range” of its products, fell 1.2 percent on Wednesday when it unveiled its largest-ever iPhone, but made only small, widely expected changes to its line-up.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 209.62.
The projected upper bound is: 235.16.
The projected lower bound is: 219.36.
The projected closing price is: 227.26.
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 30 white candles and 20 black candles for a net of 10 white candles.
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 60.9566. 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 64.97. 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 5 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 67. This is not a topping or bottoming area. The last signal was a sell 5 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 4 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 5.340 at 226.410. Volume was 64% above average (neutral) and Bollinger Bands were 8% narrower than normal.
Open High Low Close Volume___
223.520 228.350 222.570 226.410 41,706,376
Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 224.20 206.43 183.79
Volatility: 28 24 27
Volume: 39,101,744 27,227,202 30,750,574
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 23.2% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 44 periods.
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