Apple Inc. (NASDAQ:AAPL) intends to rely solely on Broadcom for the components as long as the company can meet commitments for quantity and quality
Broadcom Inc. AVGO, +1.94% disclosed Monday afternoon that it has landed a two-year deal with Apple Inc. AAPL, +0.95% to provide some components, sending shares higher in after-hours trading.
In a filing with the Securities and Exchange Commission, Broadcom said that it had agreed to supply radio-frequency components for smartphones, tablets and smartwatches, and that Apple said it intends to rely solely on Broadcom for the components as long as the company can meet commitments for quantity and quality.
Broadcom shares added more than 2% in the extended trading session Monday, while shares of Qorvo Inc. QRVO, +1.74% – an Apple supplier that specializes in radio-frequency components, dropped about half a percent.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 188.33.
The projected upper bound is: 202.69.
The projected lower bound is: 182.62.
The projected closing price is: 192.66.
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 29 white candles and 21 black candles for a net of 8 white candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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 91.6638. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 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 57.25. 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 4 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 178.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 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 buy 3 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 2.430 at 192.580. Volume was 9% below average (neutral) and Bollinger Bands were 5% narrower than normal.
Open High Low Close Volume___
191.810 195.370 191.620 192.580 26,220,852
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 181.24 194.24 190.34
Volatility: 31 33 40
Volume: 28,526,032 28,994,148 34,628,960
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 1.2% 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 20 periods.