Apple Inc. (NASDAQ:AAPL) Soars to All-Time High After Earnings

Apple Inc. (NASDAQ:AAPL) Soars to All-Time High After Earnings

Apple Inc. (NASDAQ:AAPL) Soars to All-Time High After Earnings

The company worth nearly $1 trillion reported earnings Tuesday. Here’s what you need to know.

Apple Inc. delivered its best-ever revenue for what is typically its weakest quarter, as demand for high-price iPhones remained resilient and services such as app-store sales swelled to a record.

Revenue came in at $53.27 billion, beating the $52.34 billion consensus estimate.

Investors were quite impressed with the ASPs for iPhones, which at $724 blew the consensus $694 level of analysts surveyed by FactSet out of the water. Clearly, this indicates the product mix has moved toward the higher end of the spectrum – and toward the iPhone X in particular – more rapidly than Wall Street expected.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 195.13.

The projected lower bound is: 185.61.

The projected closing price is: 190.37.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 17.2447. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 2 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 50.79. 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 37 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 -71. This is not a topping or bottoming area. The last signal was a sell 2 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 sell 1 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 0.380 at 190.290. Volume was 47% above average (neutral) and Bollinger Bands were 42% narrower than normal.

Open High Low Close Volume___
190.300 192.140 189.340 190.290 39,373,040

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

Moving Averages: 10-period 50-period 200-period
Close: 191.85 189.19 176.22
Volatility: 14 16 26
Volume: 21,240,242 21,691,010 29,937,748

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 8.0% 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 13 periods.

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