Apple Inc. (NASDAQ:AAPL) soars to all-time high after top analyst suggests ‘completely wireless’ iPhone could arrive by 2021
Apple soared to an all-time high Friday, jumping as much as 1.5% following reports detailing its upcoming iPhone lineup.
The company may release a new, high-tier iPhone without a Lightning port and a “completely wireless experience” as soon as 2021, Apple analyst Ming-Chi Kuo said in a Thursday note. The product would rely on wireless charging for its power source and would serve as a new way for the company to differentiate its more expensive phones from the rest of its lineup.
Apple is expected to unveil its first 5G-capable iPhone lineup in fall 2020.
The stock jump also follows a Friday US jobs report that trounced expectations. The nation’s economy added 266,000 nonfarm payrolls in November, higher than the 185,000 prediction among economists. The data also pushed the US unemployment rate to a historically low 3.5%.
The positive labor market update drove all three major US indexes roughly 1% higher.
Friday’s surge further solidifies Apple’s position as the world’s most valuable company. The Cupertino, California-based company took back the market-cap crown from Microsoft on October 18 as better-than-expected iPhone 11 sales propped up its stock price. Several analysts previously anticipated consumers would skip the latest iPhone generation to wait for its 5G-enabled devices.
Apple was also the first publicly traded company to break the $1 trillion market cap threshold, setting the record in August 2018.
The company traded at $269.39 per share at 11:40 a.m. ET, up roughly 71% year-to-date.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 280.54.
The projected lower bound is: 262.91.
The projected closing price is: 271.73.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 33 white candles and 16 black candles for a net of 17 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 5 rising windows in the last 50 candles–this makes the current rising window even more bullish.
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 75.4853. This is not an overbought or oversold reading. The last signal was a sell 4 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 66.32. 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 7 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 157.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 2 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 12 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 5.130 at 270.710. Volume was 1% below average (neutral) and Bollinger Bands were 51% narrower than normal.
Open High Low Close Volume___
267.480 271.000 267.300 270.710 26,547,492
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 264.92 248.53 210.96
Volatility: 24 23 29
Volume: 20,682,618 24,766,878 26,991,572
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 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 28.3% above its 200-period moving average and is in an upward trend. Volatility is 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 76 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
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