Apple Inc. (NASDAQ:AAPL) concerns about the company’s legal fight with Qualcomm
A Wall Street research firm on Monday lowered its rating on Apple stock to negative from neutral on concerns about the company’s legal fight with Qualcomm (QCOM) and potential antitrust issues with its services business.
In the United States, Apple is suing Qualcomm for a hefty $1 billion — but it has also filed a lawsuit in China for $145 million, as well as in the United Kingdom. Qualcomm has followed with its own countersuit (but is losing quite a bit of money).
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 193.75.
The projected upper bound is: 216.28.
The projected lower bound is: 202.20.
The projected closing price is: 209.24.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 69.1364. This is not an overbought or oversold reading. The last signal was a sell 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 71.55. 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 1 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 73. This is not a topping or bottoming area. The last signal was a sell 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 8 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 1.340 at 208.870. Volume was 3% below average (neutral) and Bollinger Bands were 74% wider than normal.
Open High Low Close Volume___
207.700 210.952 207.700 208.870 25,890,880
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 205.59 192.66 178.45
Volatility: 36 23 27
Volume: 35,069,312 24,186,916 30,477,378
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.
APPLE INC is currently 17.0% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 22 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an overbought condition.