Apple Inc. (NASDAQ:AAPL) expected to report strong results

Apple Inc. (NASDAQ:AAPL) expected to report strong results

Apple Inc. (NASDAQ:AAPL) expected to report strong results

Apple, the world’s most valuable public company, is expected to report strong results thanks to a boost in the “average selling price” metric from pricier phones, not necessarily more iPhones sold.

Sales of the $750 iPhone XR won’t be included in these results, and only 10 days of the more expensive iPhone XS and XS Max sales will be included, per MarketWatch.

Expect CEO Tim Cook to field questions about Apple’s upcoming holiday quarter, its growing services business, and U.S.-China relations, though Apple’s products were spared from the latest round of tariffs.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 227.12.

The projected lower bound is: 205.59.

The projected closing price is: 216.36.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 33.8055. This is not an overbought or oversold reading. The last signal was a buy 10 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 45.83. 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 36 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 -113.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 5 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 14 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -3.500 at 216.300. Volume was 100% below average (consolidating) and Bollinger Bands were 7% wider than normal.

Open High Low Close Volume___
215.900 220.190 212.670 216.300 107,051

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

Moving Averages: 10-period 50-period 200-period
Close: 219.06 221.25 191.40
Volatility: 37 31 29
Volume: 28,696,830 32,231,144 31,625,456

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 13.0% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 12 periods.

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