Apple Inc. (NASDAQ:AAPL) Target $185
Apple had a roller coaster year in 2018. In late summer, the company broke above $1 trillion in total market cap, making it the first publicly traded company to reach that milestone. The stock climbed above $225 per share in September, and reached an all-time high of $230 in October, before beginning a Q4 slide that bottomed out at $146 on Christmas Eve. Immediately after the New Year, CEO Tim Cook talked down the Q4 guidance, pushing the stock to a low of $141. Since then, AAPL has gained 23%.
Shares were pushed down by a combination of factors, including slowing iPhone sales, US-China trade tensions, and slower spending among Chinese consumers. A company decision to stop reporting total iPhone units sold did not improve the mood of investors.
At the same time, Apple has undeniable strengths. The company is sitting on a cash hoard of over $280 billion, the iPad and iMac product lines remain profitable, and the services segment (Apple Music, the App Store, etc.) is showing strong profit growth. And as a less visible advantage, Apple’s more traditional position selling tangible products has generally kept it out of the regulatory crosshairs that have plagued Alphabet and Facebook.
Even so, Apple’s heavy losses and downgraded quarterly expectations have left it with an even bull/bear split from the analysts. The most recent reviews, however, are tending toward the bullish side.
Overall, the bias in prices is: Sideways.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 173.74.
The projected upper bound is: 183.85.
The projected lower bound is: 162.02.
The projected closing price is: 172.94.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 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 31.4542. This is not an overbought or oversold reading. The last signal was a sell 18 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 54.81. 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 42 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 -17. This is not a topping or bottoming area. The last signal was a sell 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 5 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed down -2.020 at 172.500. Volume was 36% below average (neutral) and Bollinger Bands were 73% narrower than normal.
Open High Low Close Volume___
173.870 174.440 172.020 172.500 24,796,374
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 174.29 162.96 190.88
Volatility: 15 45 38
Volume: 23,257,406 32,909,404 32,665,674
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 9.6% below 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 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 28 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.