Apple Inc. (NASDAQ:AAPL) is again the most valuable U.S. public company

Apple Inc. (NASDAQ:AAPL) is again the most valuable U.S. public company

Apple Inc. (NASDAQ:AAPL) is again the most valuable U.S. public company

Two months after losing its title as the most valuable U.S. public company, and a month after revealing that iPhone sales were disappointing in the holiday season, Apple Inc. AAPL, +0.03% has regained its throne for highest market capitalization. Apple shares added 6 cents Wednesday after announcing the departure of retail chief Angela Ahrendts on Tuesday afternoon, and ended the session with a market cap of $821.6 billion, according to FactSet data. That performance was good enough to land atop Microsoft Corp. MSFT, -1.11% and Amazon.com Inc. AMZN, -1.12% which both declined 1.1% on the day. Microsoft moved ahead of its tech rivals late last year, and has jockeyed for the top position with Amazon since. Alphabet Inc. GOOGL, -2.52% GOOG, -2.68% was less than 3% away from the top spot before it announced earnings earlier this week, but shares in Google’s parent company gained only slightly Tuesday after spending concerns clouded its earnings beat, and fell 2.7% Wednesday. At the end of Wednesday trading, Microsoft was worth $813.5 billion, Amazon was worth $805.7 billion and Alphabet was worth $778.1 billion, according to FactSet data.

Overall, the bias in prices is: Sideways.

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

The projected upper bound is: 187.47.

The projected lower bound is: 160.91.

The projected closing price is: 174.19.

Candlesticks

A black body occurred (because prices closed lower 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 24 white candles and 26 black candles for a net of 2 black 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 93.9293. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 11 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 66.82. 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 22 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 125.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 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 buy 26 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 0.060 at 174.240. Volume was 31% below average (neutral) and Bollinger Bands were 6% wider than normal.

Open High Low Close Volume___
174.650 175.570 172.853 174.240 28,239,592

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

Moving Averages: 10-period 50-period 200-period
Close: 163.93 162.10 191.45
Volatility: 44 53 39
Volume: 35,712,308 41,857,900 33,664,812

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 9.0% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into AAPL.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 8 periods.

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