Apple Inc. (NASDAQ:AAPL) to benefit from weaker dollar, carrier promotions
Barclays raises Apple Inc’s target price by 9 pct to $175 expecting favorable FX and heavy carrier promotions in U.S. and China.
The dollar has depreciated 4 pct y/y in June-qtr, which could add 370 bps benefit to AAPL’s revenue if it stays at current levels, broker says.
Carrier promotions for iPhones through discounts and subsidies in U.S. and China may increase near-term sales, broker adds.
However, Barclays says demand pressure may return next year.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 191.89.
The projected lower bound is: 177.31.
The projected closing price is: 184.60.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 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 31.4612. This is not an overbought or oversold reading. The last signal was a sell 11 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 43.63. 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 13 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 -90. This is not a topping or bottoming area. The last signal was a buy 0 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 11 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 2.260 at 184.430. Volume was 100% below average (consolidating) and Bollinger Bands were 34% narrower than normal.
Open High Low Close Volume___
182.990 186.530 182.540 184.430 16,625
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 186.82 183.33 172.16
Volatility: 16 26 26
Volume: 26,225,170 28,219,112 31,122,914
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 7.1% 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 moderate flows of volume out of AAPL.O (mildly bearish). Our trend forecasting oscillators are currently bearish on AAPL.O and have had this outlook for the last 5 periods.
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