Apple Inc. (NASDAQ:AAPL) is reportedly willing to spend $US500 million or more on Apple Arcade
Apple may be willing to spend more than half a billion dollars to secure a successful launch for Apple Arcade, its upcoming video game subscription service, according to a new report from the Financial Times.
Apple Arcade was unveiled last month alongside Apple’s much-anticipated News Plus and TV Plus subscription services. The service is due to arrive this fall, and Apple will offer more than 100 games with the subscription service; pricing details aren’t set yet.
Apple did not immediately respond to Business Insider’s request for comment on the reported budget.
While Apple’s choice to invest in video games came as a surprise to some, it reflects growing interest in the industry from major tech companies. Google announced a streaming video game platform called Stadia at the Game Developer’s Conference in March, and Amazon is working on new games and a possible streaming service as well.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 206.02.
The projected lower bound is: 193.75.
The projected closing price is: 199.88.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.
If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with APPLE INC), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.
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 43.0692. This is not an overbought or oversold reading. The last signal was a sell 2 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 70.83. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 15 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 68. This is not a topping or bottoming area. The last signal was a sell 2 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 sell 0 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 0.360 at 199.230. Volume was 49% below average (neutral) and Bollinger Bands were 22% narrower than normal.
Open High Low Close Volume___
198.580 199.850 198.010 199.230 17,536,646
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 197.93 182.32 191.15
Volatility: 13 21 38
Volume: 23,322,180 27,038,756 33,379,648
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 4.2% above its 200-period moving average and is in an upward trend. Volatility is low 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 bullish on AAPL.O and have had this outlook for the last 55 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an overbought condition.