Apple Inc. (NASDAQ:AAPL) Rosenblatt Securities downgraded the iPhone maker’s stock to a “sell”
Apple has suddenly become one of the most polarizing stocks on Wall Street. Shares of Apple fell more than 2% Monday after an analyst at Rosenblatt Securities downgraded the iPhone maker’s stock to a “sell.
“Three analysts now rate Apple’s shares a “sell,” according to data from Refinitiv. Another 18 analysts have Apple (AAPL) rated a “hold” — which many on Wall Street view as essentially the same thing as a sell.
And 23 analysts think Apple is a “buy.”Right now, the Apple bulls still appear to have the upper hand. The stock is up more than 25% this year, making it one of the best performers in the Dow so far in 2019.
But Jun Zhang, the Rosenblatt analyst who downgraded Apple on Monday, paints a pretty bleak picture for Apple for the rest of the year.
“We believe new iPhone sales will be disappointing, iPad sales growth will slow in the second half of 2019 [and] other product sales growth, such as the HomePod, AirPod and iWatch, may not be meaningful to support total revenue growth,” Zhang wrote in a report Monday.
Zhang said the iPhone XS may wind up being “one of the worst selling iPhone models in the history of Apple.
“And even though service sales growth has been strong for several quarters thanks to Apple Music and Apple News, he believes that growth will start to slow.It’s notable that Zhang — whose official title at Rosenblatt is China analyst covering tech, media and telecom — did not cite any specific concerns about Apple sales in China. Apple’s warning on that market stunned investors earlier this year.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 193.17.
The projected upper bound is: 210.31.
The projected lower bound is: 189.52.
The projected closing price is: 199.91.
A black body occurred (because prices closed lower 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 26 white candles and 24 black candles for a net of 2 white candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 10 falling windows in the last 50 candles–this makes the current falling window even more bearish.
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 72.9449. 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 56.47. 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 23 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 -5. This is not a topping or bottoming area. The last signal was a sell 0 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 down -4.210 at 200.020. Volume was 10% below average (neutral) and Bollinger Bands were 41% narrower than normal.
Open High Low Close Volume___
200.810 201.400 198.410 200.020 25,338,628
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 200.46 193.80 188.14
Volatility: 24 34 40
Volume: 21,558,676 28,805,644 33,699,708
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 gapped down today (bearish) 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 6.3% 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 16 periods.
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