Apple Inc. (NASDAQ:AAPL) Verizon announced that Beyond Unlimited and Above Unlimited subscribers will get free Apple Music subscriptions

Apple Inc. (NASDAQ:AAPL) Verizon announced that Beyond Unlimited and Above Unlimited subscribers will get free Apple Music subscriptions

Apple Inc. (NASDAQ:AAPL) Verizon announced that Beyond Unlimited and Above Unlimited subscribers will get free Apple Music subscriptions

Apple (NASDAQ:AAPL) continues to trail Spotify (NYSE:SPOT) as the streaming music services race to add paid subscribers. However, AAPL just got a big boost, at least in the American market. Verizon (NYSE:VZ) announced that an Apple Music subscription will be included for free with several of its premium cellular plans.

Verizon Expands AAPL Partnership, Offers Free Apple Music for Premium Unlimited Plans

On Jan. 15, Verizon announced that it was expanding its partnership with Apple. Starting January 17, customers who subscribe to Verizon’s Beyond Unlimited and Above Unlimited cellular plans will get Apple Music bundled with their plan for free. That saves the customer $9.99 monthly compared to paying for the streaming music service from Apple.

Customers who subscribe to the less expensive Go Unlimited plan will get a free six month trial of Apple Music –a continuation of a program Verizon launched last August. 

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 168.98.

The projected lower bound is: 138.21.

The projected closing price is: 153.59.

Candlesticks

A white body occurred (because prices closed higher 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 22 white candles and 28 black candles for a net of 6 black 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 61.4572. This is not an overbought or oversold reading. The last signal was a sell 2 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 44.83. 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 8 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 55. This is not a topping or bottoming area. The last signal was a buy 7 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 buy 12 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 1.870 at 154.940. Volume was 26% below average (neutral) and Bollinger Bands were 25% narrower than normal.

Open High Low Close Volume___
153.080 155.880 153.000 154.940 30,569,706

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

Moving Averages: 10-period 50-period 200-period
Close: 150.65 171.59 192.23
Volatility: 72 57 38
Volume: 44,534,452 45,686,000 33,414,400

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 19.4% 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 66 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

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