Apple Inc. (NASDAQ:AAPL) Target $253.00

Apple Inc. (NASDAQ:AAPL) Target $253.00

Apple Inc. (NASDAQ:AAPL) Target $253.00

Apple (NASDAQ:AAPL) had its price objective lifted by Morgan Stanley from $226.00 to $253.00 in a research note released on Thursday, November 8th, Marketbeat reports. The firm currently has an overweight rating on the iPhone maker’s stock.

A number of other research analysts also recently issued reports on the stock. BTIG Research upgraded shares of Apple to a buy rating and upped their target price for the company from $207.00 to $235.00 in a research report on Wednesday, August 1st. Macquarie set a $214.00 target price on shares of Apple and gave the company a buy rating in a research report on Wednesday, August 15th. S&P Equity Research upped their target price on shares of Apple to $250.00 and gave the company an in-line rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. UBS Group initiated coverage on shares of Apple in a research report on Wednesday, September 12th. Finally, Nomura restated a neutral rating and set a $185.00 target price on shares of Apple in a research report on Monday, November 5th. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating and twenty-six have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $224.12.

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 210.47.

The projected upper bound is: 207.01.

The projected lower bound is: 178.94.

The projected closing price is: 192.97.

Candlesticks

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 26 white candles and 24 black candles for a net of 2 white candles.

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 23.9732. This is not an overbought or oversold reading. The last signal was a buy 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 37.71. 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 51 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 -87. This is not a topping or bottoming area. The last signal was a buy 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 sell 29 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 2.120 at 193.530. Volume was 11% above average (neutral) and Bollinger Bands were 111% wider than normal.

Open High Low Close Volume___
190.500 194.969 189.460 193.530 36,928,252

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 198.64 216.31 193.75
Volatility: 47 42 32
Volume: 43,342,580 38,383,300 32,343,592

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 is currently 0.1% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 27 periods.

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