Apple Inc. (NASDAQ:AAPL) finding traction again

Apple Inc. (NASDAQ:AAPL) finding traction again

Apple Inc. (NASDAQ:AAPL) finding traction again

The buzz surrounding the new Apple (NASDAQ:AAPL) iPhone XR is palpable. The company will begin taking orders for them this week, and begin shipping them next week. Apple stock, which had been weighed down by marketwide selling earlier this month, is finding traction again. At least one analyst believes the more affordably priced device could translate into record-breaking sales (by unit) for the quarter ending this month.

The buzz may well be justified. And, the analyst in question — TF International Securities’ Ming-Chi Kuo — may well be right. Apple could very well sell a stunning number of iPhones in the coming weeks now that it’s also offering models in the middle portion of the price spectrum.

In a subtle way, most current and prospective owners of AAPL stock don’t fully appreciate, though, the fourth quarter could end up being a pivotal moment for the company’s flagship product.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 226.14.

The projected lower bound is: 206.25.

The projected closing price is: 216.20.


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 62.6117. This is not an overbought or oversold reading. The last signal was a buy 4 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 44.47. 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 30 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 -109.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 4 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 sell 8 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -5.170 at 216.020. Volume was 14% above average (neutral) and Bollinger Bands were 4% wider than normal.

Open High Low Close Volume___
217.860 219.740 213.000 216.020 32,581,316

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

Moving Averages: 10-period 50-period 200-period
Close: 220.46 220.14 190.06
Volatility: 44 29 29
Volume: 34,102,988 31,841,624 31,422,194

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 13.7% 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 6 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :