Apple Inc. (NASDAQ:AAPL) iPhone preorders appear stable or down from last year

Apple Inc. (NASDAQ:AAPL) iPhone preorders appear stable or down from last year

Apple Inc. (NASDAQ:AAPL) iPhone preorders appear stable or down from last year

A few days after the iPhone XS and iPhone XS Max became available for preorder, financial analysts reported Monday that sales looked stable to slightly weaker against the iPhone X preorder numbers from a year ago.

In general, he expects that Apple Inc. AAPL, -2.66% will produce 35 million to 36 million iPhone XS and XS Max devices combined in the September and December quarters, compared with 36 million iPhone X devices in the same period a year ago. He thinks that about 10 million iPhone XS and XS Max models will ship in the September quarter and that Apple will produce roughly 15 million in that time period.

Apple shares ended Monday down 2.7%, though the stock is up 36% over the past 12 months. The Dow Jones Industrial Average DJIA, -0.35% of which Apple is a component, has gained 17% in that time.

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 226.94.

The projected lower bound is: 210.01.

The projected closing price is: 218.48.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 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 52.4050. 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 50.68. 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 7 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 -105.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 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 sell 6 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -5.960 at 217.880. Volume was 45% above average (neutral) and Bollinger Bands were 12% narrower than normal.

Open High Low Close Volume___
222.150 222.950 217.270 217.880 37,195,132

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

Moving Averages: 10-period 50-period 200-period
Close: 223.10 207.80 184.29
Volatility: 31 26 27
Volume: 36,807,788 27,929,300 30,756,070

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 18.2% 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 46 periods.

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