Apple Inc. (NASDAQ:AAPL) Judge recommends partial iphone ban

Apple Inc. (NASDAQ:AAPL) Judge recommends partial iphone ban

Apple Inc. (NASDAQ:AAPL) Judge recommends partial iphone ban

Judge McNamara reportedly found that the company infringed on Qualcomm patents, and it remains unclear whether the recommendation of the judge will be materialized in the near-term, as it has to be approved by the commission.

The statement issued by Judge McNamara to the United States International Trade Commission read:

“I have found that Complainant, Qualcomm Incorporated (“Qualcomm”), has proven by a preponderance of evidence that Respondent, Apple, Inc. (“Apple”), has violated subsection (b) of Section 337 in the importation into the United States, the sale for importation, or the sale within the United States after importation of certain mobile electronic devices containing processing components.”

While the share prices of both Apple and Qualcomm saw immediate effect following the release of the ruling, some analysts claim that the slight retrace in Apple stock is bigger than the ruling itself.

OTHER FACTORS CAUSING APPLE STOCK TO DECLINE

Since late 2018, due to the plateauing growth of mobile phone technology, the sales of mobile phone manufacturers in the likes of Apple and Samsung have struggled to meet the expectations of Wall Street analysts.

It is possible that Apple is risking short-term growth to establish a robust foundation for the long-term health of the company.

Regardless, many strategists remain cautiously optimistic in the long-term growth of Apple but in the foreseeable future.

It is also important to take into consideration that AAPL shares have surged by 31.9 percent since January 3, from $142.19 to $187.61, and the company is in an ideal position to take some risks to improve the financial stability of the firm.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 179.33.

The projected upper bound is: 195.45.

The projected lower bound is: 179.51.

The projected closing price is: 187.48.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 32.1291. 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 60.97. 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 1 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 47. This is not a topping or bottoming area. The last signal was a sell 1 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 10 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -1.950 at 186.790. Volume was 34% above average (neutral) and Bollinger Bands were 6% narrower than normal.

Open High Low Close Volume___
191.664 192.880 184.580 186.790 49,800,536

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

Moving Averages: 10-period 50-period 200-period
Close: 187.59 171.52 190.60
Volatility: 30 30 39
Volume: 36,964,408 29,735,270 33,573,096

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 2.0% below 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 41 periods.

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