Apple Inc. (NASDAQ:AAPL) remained aggressive in buying back its stock
Apple Inc. remained aggressive in buying back its stock when momentum was strong, and prices held above the $200 mark, but when the going got tough for investors, Apple was nowhere to be found.
In a filing with the Securities and Exchange Commission, the technology giant disclosed that it spent $8.24 billion repurchasing 38,024,000 shares during its fiscal first quarter ended Dec. 29, at what amounted to a weighted average price of $216.61.
That compares with the $19.44 billion Apple spent to buy back 92,463,000 shares, at a weighted average price of $210.32, during the sequential September quarter.
Apple AAPL, +0.72% broke down the purchases for the December quarter: 31,343,000 shares were bought from Sept. 30 to Nov. 3, at an average price of $219.71; and 6,681,000 shares were repurchased from Nov. 4 to Dec. 1, at an average price of $202.07.
What might disappoint some investors, who may have been banking on continued large share buybacks for support, is the last close above $200 for Apple’s stock was Nov. 9.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 179.88.
The projected lower bound is: 152.01.
The projected closing price is: 165.94.
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 23 white candles and 27 black candles for a net of 4 black candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
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 80.9010. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 7 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 59.70. 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 18 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 242.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 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 buy 22 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 1.190 at 166.440. Volume was 1% below average (neutral) and Bollinger Bands were 24% narrower than normal.
Open High Low Close Volume___
166.110 169.000 164.560 166.440 40,739,648
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 157.30 163.04 191.49
Volatility: 46 55 39
Volume: 34,571,488 42,843,776 33,760,588
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 13.1% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into AAPL.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 4 periods.