Apple Inc. (NASDAQ:AAPL) Though Apple stock isn’t cheap, it is attractively valued compared with other tech bellwethers

Apple Inc. (NASDAQ:AAPL) Though Apple stock isn’t cheap, it is attractively valued compared with other tech bellwethers

Apple Inc. (NASDAQ:AAPL) Though Apple stock isn’t cheap, it is attractively valued compared with other tech bellwethers

The threat of a trade war really only makes Apple (NASDAQ:AAPL) more appealing and dips from current worries only improve the reasons for buying Apple stock.

Anytime you see a headline like “Apple is especially vulnerable to trade tensions” in the Wall Street Journal, the time has arrived to add the maker of the iPhone, iPad and Apple Watch to your portfolio.

This isn’t a knock against the Journal’s report, which is solid, but a headline like that might scare away some investors from AAPL stock.

As Warren Buffett and others have noted, “fear” can be an investor’s best friend. Though worries about China haven’t yet cast a shadow over Apple stock, it certainly may do that if the trade war with China continues to escalate.

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 226.55.

The projected lower bound is: 209.84.

The projected closing price is: 218.19.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black 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 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 31.5136. This is not an overbought or oversold reading. The last signal was a buy 1 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 49.93. 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 11 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 -82. This is not a topping or bottoming area. The last signal was a buy 1 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 10 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -2.370 at 217.660. Volume was 263% above average (trending) and Bollinger Bands were 23% narrower than normal.

Open High Low Close Volume___
220.780 221.360 217.290 217.660 96,246,752

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

Moving Averages: 10-period 50-period 200-period
Close: 220.57 210.09 185.25
Volatility: 30 25 27
Volume: 41,699,612 30,108,954 30,957,930

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 17.5% above 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 2 periods.

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