Apple Inc. (NASDAQ:AAPL) looking to display strength as it nears its next earnings release

Apple Inc. (NASDAQ:AAPL)  looking to display strength as it nears its next earnings release

Apple Inc. (NASDAQ:AAPL) looking to display strength as it nears its next earnings release

Apple (AAPL) closed at $198.60 in the latest trading session, marking a -0.09% move from the prior day. This change was narrower than the S&P 500’s daily loss of 0.17%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq lost 0.32%.

Heading into today, shares of the maker of iPhones, iPads and other products had gained 10.64% over the past month, outpacing the Computer and Technology sector’s gain of 2.43% and the S&P 500’s gain of 3.07% in that time.

AAPL will be looking to display strength as it nears its next earnings release. On that day, AAPL is projected to report earnings of $2.12 per share, which would represent a year-over-year decline of 9.4%. Meanwhile, our latest consensus estimate is calling for revenue of $53.31 billion, up 0.09% from the prior-year quarter.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 208.65.

The projected lower bound is: 188.50.

The projected closing price is: 198.57.

Candlesticks

A white body occurred (because prices closed higher 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 27 white candles and 23 black candles for a net of 4 white candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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 77.7101. This is not an overbought or oversold reading. The last signal was a sell 0 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 62.16. 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 14 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 87. This is not a topping or bottoming area. The last signal was a sell 6 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 13 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -0.200 at 198.580. Volume was 35% below average (neutral) and Bollinger Bands were 49% wider than normal.

Open High Low Close Volume___
198.540 200.160 198.170 198.580 18,220,420

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

Moving Averages: 10-period     50-period     200-period
Close: 196.29 194.25 189.08
Volatility: 17 33 40
Volume: 23,550,154 28,917,170 34,407,512

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 5.0% above 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 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 7 periods.

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