Apple Inc. (NASDAQ:AAPL) stock heads for 4th straight gain to 11-month high
Shares of Apple Inc. AAPL, -0.23% rose 0.9% in midday trading, putting them on track for a fourth-straight gain. The stock, which has rallied 5.8% during the win streak, is also headed for the highest close since Oct. 9, 2018. The stock’s gains come in the wake of the iPhone Launch Event on Tuesday. Apple rejoined the trillion-dollar market capitalization club on Wednesday for the first time since Nov. 1.
The market cap was recently $1.02 trillion, just behind Microsoft Corp.’s MSFT, +1.03% first-place market cap of $1.05 trillion. Apple’s stock has run up 43.0% year to date and Microsoft shares have hiked up 35.2%, while the Dow Jones Industrial Average DJIA, +0.17% has gained 16.8%.
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 203.70.
The projected upper bound is: 234.46.
The projected lower bound is: 212.52.
The projected closing price is: 223.49.
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.
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 90.5607. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 13 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 67.37. 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 70 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 175.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 13 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 down -0.505 at 223.085. Volume was 17% above average (neutral) and Bollinger Bands were 3% wider than normal.
Open High Low Close Volume___
224.800 226.420 222.860 223.085 32,226,668
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 213.67 206.77 186.90
Volatility: 24 34 37
Volume: 26,035,954 26,628,204 31,003,718
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 19.4% 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 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 16 periods.
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