Apple Inc. (NASDAQ:AAPL) price target was raised to $300 from $250
Apple’s price target was raised to $300 from $250 at Citi, which reiterated its buy rating on the iPhone maker and forecast strong results in the company’s holiday quarter.
Analyst Jim Suva cited the company’s “pricing strategies and recent demand trends” as factors that “augur for a better Christmas quarter” than last year, when Apple cut its revenue forecast. The consensus is “underappreciating the Apple Watch and Apple AirPods demand strength,” he wrote, adding that Apple’s services business would also grow and help margins.
Shares of Apple are up nearly 70% thus far this year, putting the company on track for its biggest one-year gain since 2009. The stock rose as much as 1.2% on Thursday.
Apple’s first-quarter results are expected to be released on Jan. 28.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 275.15.
The projected lower bound is: 257.79.
The projected closing price is: 266.47.
A white body occurred (because prices closed higher 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 32 white candles and 17 black candles for a net of 15 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 49.8885. This is not an overbought or oversold reading. The last signal was a sell 3 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 60.91. 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 6 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 17. This is not a topping or bottoming area. The last signal was a buy 1 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 11 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 3.840 at 265.580. Volume was 32% below average (neutral) and Bollinger Bands were 55% narrower than normal.
Open High Low Close Volume___
263.790 265.890 262.730 265.580 18,661,344
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 264.05 247.51 210.47
Volatility: 22 23 29
Volume: 21,062,748 24,617,694 26,953,400
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 26.2% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 75 periods.
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