Apple Inc. (NASDAQ:AAPL) HEFFX Summary

Apple Inc. (NASDAQ:AAPL) HEFFX Summary

Apple Inc. (NASDAQ:AAPL) HEFFX Summary

HEFFX Remains on its $200 target

Apple is getting ready to launch its first retail store in Taiwan. According to its Taiwan website, the Apple Store will be in Taipei 101, the landmark skyscraper, and decorated with papercut art by Yang Shiyi, whose work is already featured on a sign marking the shop’s future location.

“Here comes Apple Taipei 101, our first store in Taiwan! 有閒來坐! pic.twitter.com/hniIt9K3Xa” — Tim Cook (@tim_cook) June 11, 2017

Up till now, Taiwanese Apple users have relied on its site or authorized resellers like Youth, Studio A, and iStore to buy products. The Apple Store’s arrival in Taiwan is interesting because of the country’s fraught relationship with China, Apple’s largest market outside of the U.S., which considers Taiwan a rogue state instead of a sovereign nation.

Apple Inc. has been downgraded, with the more bearish view once again stemming from concerns that optimism over the iPhone 8 has been baked into the stock.

“The stock has meaningfully outperformed on a YTD (year-to-date) basis and we believe enthusiasm around the coming product cycle is fully captured at current levels, with limited upside to estimates from here on out,” said Abhey Lamba and Parthiv Varadarajan at Mizuho Securities in a note dated Sunday.

Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store. The Company distributes its products worldwide through its retail stores, online stores, and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. In February 2012, the Company acquired app-search engine Chomp.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

The projected upper bound is: 153.94.

The projected lower bound is: 144.21.

The projected closing price is: 149.08.

APPLE INC closed down -6.010 at 148.980. Volume was 100% below average (consolidating) and Bollinger Bands were 38% narrower than normal.

Open           High           Low            Close            Volume
155.190      155.190      146.020      148.980      96,043

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

Moving Averages: 10-period         50-period       200-period
Close:                       153.64               148.56             127.10
Volatility:                26                      21                      21
Volume:                  20,505,350      24,134,876      30,048,138

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 17.2% above its 200-period moving average and is in an upward 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 bullish on AAPL.O and have had this outlook for the last 30 periods.

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 48.8400. This is not an overbought or oversold reading. The last signal was a sell 16 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 41.53. 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 16 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 -316.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 0 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 15 period(s) ago.

 

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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