Apple Inc. (NASDAQ:AAPL) cause for serious concern is building

Apple Inc. (NASDAQ:AAPL) cause for serious concern is building

Apple Inc. (NASDAQ:AAPL) cause for serious concern is building

If you’ve read my iPhone XR Vs iPhone XS and Vs iPhone XS Max guides, you’ll know that it is actually Apple AAPL +1.47%’s new budget-friendly XR which is by far the most exciting model this year. But now the iPhone XR is finally available to buy, something appears very wrong…

On Friday respected Loup Ventures analyst Gene Munster expressed his surprise that the iPhone XR was the first new iPhone in generations not to sell out within hours of going on sale. But now it’s much worse.

Some clarity may arrive early next month as Apple is due to report its next financial quarter on November 1st. The company never breaks down iPhone sales by model, but (*refreshes pages, finds all iPhone XR models still available day one*) cause for serious concern is building…

Overall, the bias in prices is: Upwards.

The projected upper bound is: 229.53.

The projected lower bound is: 209.51.

The projected closing price is: 219.52.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 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 59.3801. This is not an overbought or oversold reading. The last signal was a buy 5 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 48.29. 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 31 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 -52. This is not a topping or bottoming area. The last signal was a buy 0 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 9 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 3.290 at 219.310. Volume was 15% above average (neutral) and Bollinger Bands were 2% wider than normal.

Open High Low Close Volume___
218.060 221.260 217.430 219.310 33,078,726

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

Moving Averages: 10-period 50-period 200-period
Close: 219.96 220.35 190.29
Volatility: 45 29 29
Volume: 34,052,816 32,033,346 31,475,414

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 15.2% above its 200-period moving average and is in an downward 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 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 7 periods.

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