Apple Inc. (NASDAQ:AAPL) CEO Tim Cook delivers the keynote address during Apple WWDC on June 8, 2015 in San Francisco

Apple Inc. (NASDAQ:AAPL) CEO Tim Cook delivers the keynote address during Apple WWDC on June 8, 2015 in San Francisco

Apple Inc. (NASDAQ:AAPL) CEO Tim Cook delivers the keynote address during Apple WWDC on June 8, 2015 in San Francisco

Apple is expected to launch the latest version of iOS, its software for the iPhone and iPad, on Monday at its annual Worldwide Developers Conference, or WWDC. The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don’t expect this year to be any different.

The announcement of the new software, likely called iOS 13, will show how Apple is evolving its most important product, the iPhone, in the face of a contracting smartphone market.

The company’s Worldwide Developers Conference, or WWDC, also is an opportunity for Apple to highlight its growing services business, which revolves around selling online subscriptions to iPhone users, including an announced video service this called Apple TV+. The next version of iOS will have to support this service.

“This year WWDC will have a different feel as Apple needs to prove with its next iOS, currently codenamed Yukon, that this platform has the speed, scalability, and feature functionality to smoothly support and lay the groundwork for the company’s flagship video streaming service slated for the fall,” Wedbush analyst Dan Ives wrote in a note on Friday.

WWDC kicks off on Monday in San Jose, California. The company’s new product announcements will be revealed in a livestreamed keynote address starting at 1 p.m. Eastern Time.One platform to rule them all?

WWDC is Apple’s main event to communicate how it sees its various software platforms developing.

At WWDC in 2016, Apple CEO Tim Cook framed Apple as a company with four main platforms: iOS, watchOS, macOS, and tvOS.

“This is a huge moment for us – four great platforms that become even more capable with working with all of you,” Cook said in 2016.

But in 2019, Apple doesn’t seem to have a four-legged stool anymore. Apple is increasingly emphasizing its ability to sell add-on software and subscription services to iPhone owners as smartphone sales shrink.

With that business goal front an center, Apple’s iPhone is being positioned the center of Apple’s software development universe, and its iOS App Store distribution platform as one of the company’s crown jewels.

For example, Apple’s TV strategy has moved away froma becoming its own separate platform for apps. Instead, Apple’s main video product is itself an app that aggregates paid video feeds from outside providers — which are “channels,” not apps. The Apple TV app is increasingly available on television sets from competitors like Samsung, and Apple said in the spring that its streaming service, Apple TV+, will go on sale this fall.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 184.70.

The projected lower bound is: 164.92.

The projected closing price is: 174.81.

Candlesticks

A black body occurred (because prices closed lower 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 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 16.3479. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 14 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 29.39. This is where it usually bottoms. 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 18 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 -111.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 1 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 24 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -3.230 at 175.070. Volume was 100% below average (consolidating) and Bollinger Bands were 91% wider than normal.

Open High Low Close Volume___
176.230 177.990 174.990 175.070 8,788

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 180.91 194.95 191.23
Volatility: 26 32 40
Volume: 26,750,572 29,596,402 34,440,592

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 8.4% below its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume out of AAPL.O (mildly bearish). Our trend forecasting oscillators are currently bearish on AAPL.O and have had this outlook for the last 14 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an oversold condition.

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