Apple Inc. (NASDAQ:AAPL) Still a Great Long-Term Buy
Every few years, investors start to turn on tech giant Apple (NASDAQ:AAPL) as worries surface about the firm’s ability to continue to innovate and whether the firm’s iPhone sales will continue to bring in the kind of growth they’ve become accustomed to.
The firm’s most recent earnings results quashed the most recent wave of AAPL stock skepticism and took the stock from $190 per share to nearly $210 per share in a matter of days. However, now that the firm has a staggering market cap of $1 trillion, many are questioning if the stock is worth holding on to.
Although I’ll admit such a massive market cap is a little bit intimidating, Apple’s long-term growth story is too strong to pass up. The firm has proven over and over that its brand strength and customer loyalty are a major asset that investors shouldn’t overlook. Here are four reasons why investors should still be bullish on AAPL stock.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 190.93.
The projected upper bound is: 214.74.
The projected lower bound is: 200.53.
The projected closing price is: 207.64.
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 27 white candles and 23 black candles for a net of 4 white candles.
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 88.3152. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 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 72.08. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 43 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 83. 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 5 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 0.140 at 207.250. Volume was 100% below average (consolidating) and Bollinger Bands were 60% wider than normal.
Open High Low Close Volume___
206.050 207.810 204.520 207.250 6,117
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 200.57 191.45 177.67
Volatility: 39 23 27
Volume: 31,830,850 23,648,952 30,299,552
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 16.6% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 19 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an overbought condition.