Apple Inc. (NASDAQ:AAPL) iPhone Buyers Seeking Higher-End Models

Apple Inc. (NASDAQ:AAPL) iPhone Buyers Seeking Higher-End Models

Apple Inc. (NASDAQ:AAPL) iPhone Buyers Seeking Higher-End Models

A larger-than-expected percentage of likely Apple (AAPL) iPhone buyers is looking to get higher-end models this product cycle, a Wall Street firm said Monday.

The iPhone’s average selling price could reach $780 in fiscal 2019. That’s if the midrange iPhone XR sells better than expected, he said. Olson said his current expectation is for the iPhone XR to get 30% of iPhone sales this cycle. The 6.1-inch LCD-screen iPhone XR goes on sale Oct. 26 after a week of preorders.

“Considering Apple has not yet started marketing for iPhone XR, we expect interest for that device to grow in the coming weeks,” Olson said in a note to clients.

Olson maintained his overweight rating on Apple stock with a price target of 250.

Apple shares rose 0.7% to 227.26 on the stock market today. It is just below its all-time high of 229.67, reached on Sept. 5.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 236.57.

The projected lower bound is: 219.38.

The projected closing price is: 227.98.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 5 rising windows in the last 50 candles–this makes the current rising window even more bullish.

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 85.1738. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 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 62.51. 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 17 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 147.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 7 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 buy 0 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 1.520 at 227.260. Volume was 13% below average (neutral) and Bollinger Bands were 22% narrower than normal.

Open High Low Close Volume___
227.950 229.420 226.350 227.260 23,600,802

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

Moving Averages: 10-period 50-period 200-period
Close: 221.57 213.97 186.83
Volatility: 17 26 27
Volume: 33,449,492 31,158,160 30,942,200

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
APPLE INC is currently 21.6% 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 8 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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