Apple Inc. (NASDAQ:AAPL) earnings are expected to fall 4% in the current fiscal year
Apple stock advanced 0.8% to 204.41. The iPhone maker is working toward a 215.41 cup-with-handle buy point, but a little further away than Facebook or Amazon stock. Like those two FANGs, Apple’s handle is long enough to be its own base.
The RS line has improved somewhat in the past few weeks, but is still some distance from handle highs.
Apple earnings are expected to fall 4% in the current fiscal year and then rebound, somewhat, to 10% growth in fiscal 2020. Meanwhile, Apple stock and earnings are exposed to the China trade war. If trade talks fall apart, Apple could be a notable loser.
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 192.83.
The projected upper bound is: 214.62.
The projected lower bound is: 194.07.
The projected closing price is: 204.35.
A white body occurred (because prices closed higher 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 25 white candles and 25 black candles.
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 80.1495. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 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 66.30. 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 buy 21 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 152.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 13 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 20 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 1.680 at 204.410. Volume was 60% below average (consolidating) and Bollinger Bands were 25% narrower than normal.
Open High Low Close Volume___
203.280 204.440 202.690 204.410 11,362,045
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 199.85 193.96 188.30
Volatility: 21 34 40
Volume: 24,229,718 28,675,238 33,830,524
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 8.6% above its 200-period moving average and is in an upward 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 into AAPL.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 14 periods.
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