Apple Inc. (NASDAQ:AAPL) Bends To Governments

Apple Inc. (NASDAQ:AAPL) Bends To Governments

Apple Inc. (NASDAQ:AAPL) Bends To Governments

  • Last year, Apple was on a moral high in its defiant standoff with the FBI over whether the company would help the agency unlock the iPhone of one of the San Bernardino shooters. The company was hailed as a hero in the fight against government intrusion.
  • But the company is no longer being hailed as a privacy rights hero. In January 2017, China’s Ministry of Industry and Information adopted a new regulation requiring virtual private network (VPN) developers to obtain a license from the government.
  • VPN apps are one of the few ways that someone living in or visiting China can bypass the “Great Firewall” that restricts access to foreign websites—including perennial favorites like Google, Facebook, Twitter, and Instagram.
  • In response, on July 29, Apple announced that it was removing all major VPN apps—which help Internet users circumvent censorship systems—from its App Store in China (the apps remain available in all other markets).

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 trending.

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

By the way, prices are vulnerable to a correction towards 149.41.

The projected upper bound is: 166.05.

The projected lower bound is: 154.37.

The projected closing price is: 160.21.

APPLE INC closed up 1.270 at 160.080. Volume was 100% below average (consolidating) and Bollinger Bands were 36% wider than normal.

Open           High            Low             Close           Volume
158.600      161.830      158.270      160.080      12,170

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

Moving Averages: 10-period         50-period         200-period
Close:                       154.03              149.26               134.55
Volatility:                32                      25                      21
Volume:                   26,016,192      26,512,260      27,994,586

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 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 16 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an overbought condition.

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 79.6775. This is not an overbought or oversold reading. The last signal was a sell 8 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 70.91. 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 57 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 143.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 8 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 4 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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