Apple Inc. (NASDAQ:AAPL) reclaimed its status as a trillion-dollar company

Apple Inc. (NASDAQ:AAPL) reclaimed its status as a trillion-dollar company

Apple Inc. (NASDAQ:AAPL) reclaimed its status as a trillion-dollar company

Apple Inc. reclaimed its status as a trillion-dollar company Wednesday, hitting that level for the first time since last November on the day after it showed off its next iPhones.

Apple AAPL, +3.18%  introduced its new lineup of iPhones and revealed pricing details for its forthcoming gaming and video subscription offerings Tuesday. Though there were few product surprises in Apple’s latest announcements, the company’s approach to pricing was unexpected and indicated a change in strategy.

Apple shares gained 3.2% Wednesday, giving it a market capitalization of $1.01 trillion. Apple shares have climbed 40% so far this year, as the Dow Jones Industrial Average DJIA, +0.85% , which counts Apple as a component, has risen 16%.

In notes released Wednesday morning, analysts said they expected the company’s pricing moves to make its ecosystem more affordable, though they were divided on whether this approach will have a meaningful impact on the company’s financials in the months to come.

Technical Indicators

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 235.00.

The projected lower bound is: 213.06.

The projected closing price is: 224.03.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
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 27 white candles and 23 black candles for a net of 4 white candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 8 rising windows in the last 50 candles–this makes the current rising window even more bullish.

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 92.8030. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 12 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 68.23. 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 69 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 189.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 12 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 4 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 6.890 at 223.590. Volume was 61% above average (neutral) and Bollinger Bands were 6% narrower than normal.

Open     High      Low     Close     Volume___
218.070 223.710 217.730 223.590 44,289,648
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 211.92 206.36 186.64
Volatility: 23 34 37
Volume: 24,409,050 26,322,376 30,960,704

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
APPLE INC is currently 19.8% 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 15 periods.

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