Apple Inc. (NASDAQ:AAPL) to release its quarterly report on Nov. 1
In an interview with CNBC’s “Closing Bell” on Monday, Loup Ventures managing partner Gene Munster argued that Cupertino, Calif.-based smartphone maker, Apple is set to bounce on higher average selling prices (ASP) for its devices.
“Clarity on that should be a positive,” said Munster, regarding Apple’s latest batch of higher-margin, more expensive iPhones. “That should be a clear outlier here in terms of performance going into the print.”
Additionally, Apple should give investors confidence on a larger, more sustainable shift to “Apple as a service,” noting that better-than-expected iPhone unit growth and higher ASPs demonstrate that “this is not just a product cycle story.”
Earlier this year, Apple became the first U.S. corporation to surpass the $1 trillion mark, driven by enthusiasm surrounding the tech titan’s new focus on its burgeoning software and services businesses, including Apple Music, the App Store, and its Search Ad business.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 233.03.
The projected lower bound is: 212.99.
The projected closing price is: 223.01.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
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.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 77.1409. This is not an overbought or oversold reading. The last signal was a buy 7 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 52.16. 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 33 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 -22. This is not a topping or bottoming area. The last signal was a buy 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 11 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 2.080 at 222.730. Volume was 36% above average (neutral) and Bollinger Bands were 1% wider than normal.
Open High Low Close Volume___
215.830 223.250 214.700 222.730 38,767,848
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 219.23 220.89 190.76
Volatility: 44 29 29
Volume: 35,153,312 32,374,502 31,592,074
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 16.8% 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 9 periods.