Apple Inc. (NASDAQ:AAPL) Stock Can Hit $400

Apple Inc. (NASDAQ:AAPL) Stock Can Hit $400

Apple Inc. (NASDAQ:AAPL) Stock Can Hit $400

It seems like only yesterday that Apple (NASDAQ:AAPL) was trading around $130 and I was writing about how AAPL stock could hit $200.

Well, trading within 6% of $200, I’ve decided to up the ante. Unlike $200, which has been a surprisingly tricky hurdle, hitting $400 within the next 36 months could come more easily.

However, to do so, it’s going to need the help of these five things.

Services Revenue: In February, I highlighted the fact that Apple’s services revenue along with Apple TV, Apple Watch and its Beats products grew by 25% in the first quarter to $14 billion.

That kind of quarterly growth has got to keep happening if it has any chance of AAPL stock hitting $400 sooner rather than later.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 194.70.

The projected lower bound is: 181.97.

The projected closing price is: 188.33.

Candlesticks

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 5 falling windows in the last 50 candles–this makes the current falling window even more 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 79.8637. 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 52.16. 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 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 89. This is not a topping or bottoming area. The last signal was a sell 0 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 buy 3 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -2.470 at 187.880. Volume was 100% below average (consolidating) and Bollinger Bands were 46% narrower than normal.

Open High Low Close Volume___
188.500 189.780 187.610 187.880 3,020

Technical Outlook
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 186.80 187.12 173.61
Volatility: 20 22 26
Volume: 16,686,265 25,001,500 30,043,660

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 gapped down today (bearish) on light volume. Possibility of a Common Gap which usually coincides with a lack of interest in the security. Common Gaps are fairly irrelevent for forecasting purposes. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
APPLE INC is currently 8.2% above its 200-period moving average and is in an downward 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 volume flowing into and out of AAPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on AAPL.O and have had this outlook for the last 15 periods.

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