Apple Inc. (NASDAQ:AAPL) Apple TV In 4K

Apple Inc. (NASDAQ:AAPL) Apple TV In 4K

Apple Inc. (NASDAQ:AAPL) Apple TV In 4K

  • Last week, Apple accidentally released a firmware for the HomePod. This file is filled with references to unreleased Apple devices. According to strings in a library file spotted by Guilherme Rambo, the next Apple TV is going to support 4K videos as well as Dolby Vision, HDR10 and Hybrid Log-Gamma.
  • An Apple TV that supports higher resolution videos isn’t really a surprise as Apple is late to the game. Amazon released a 4K Fire TV back in 2015. Google released a Chromecast with 4K support last year. Roku started adding 4K devices to its lineup in 2015.
  • On Monday, Apple enthusiasts were hit with a double whammy. A new leak of the iPhone 8 came out, prompting rumors of a copper colored phone, as well as providing users with a better idea of what the body of the phone would look like. As if that weren’t enough, Apple also finally launched its own Instagram account, gaining 20,000 followers in 40 minutes.

Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store. The Company distributes its products worldwide through its retail stores, online stores, and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. In February 2012, the Company acquired app-search engine Chomp.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

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

By the way, prices are vulnerable to a correction towards 149.12.

The projected upper bound is: 164.73.

The projected lower bound is: 153.09.

The projected closing price is: 158.91.

APPLE INC closed up 2.420 at 158.810. Volume was 16% below average (neutral) and Bollinger Bands were 28% wider than normal.

Open           High            Low            Close           Volume
157.060      158.920      156.670      158.810      21,870,320

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

Moving Averages: 10-period           50-period        200-period
Close:                       153.29                149.13               134.34
Volatility:                32                        25                      21
Volume:                   27,900,368      26,950,570      28,115,154

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 18.2% 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 15 periods.

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 75.4772. This is not an overbought or oversold reading. The last signal was a sell 7 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 69.10. 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 56 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 136.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 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 3 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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