Apple Inc. (NASDAQ:AAPL) weakness won’t unwind until investors get more clarity on what the future holds for the iPhone maker
The stock of Apple is “front and center” in this bear market, and the weakness won’t unwind until investors get more clarity on what the future holds for the iPhone maker, CNBC’s Jim Cramer said Tuesday as stocks rose on trade optimism.
“In this tough, tough market, as long as we don’t know if there’s a real iPhone slowdown, and until the president takes Apple’s iPhone off the trade table, you can’t expect an end to the pain,” he argued on “Mad Money.”
In an interview published by the Wall Street Journal on Monday, Trump said the United States could slap 10-percent tariffs on iPhone and laptops imported from China, a possible negotiating tactic that nevertheless tanked Apple’s shares.
Meanwhile, reports about iPhone production slowdowns, most of which cite confidential sources familiar with the situation, have thrown Apple analysts into a tizzy and put further pressure on the stock. In less than two months, Apple’s stock has lost 25 percent of its value, or roughly $200 billion.
As for Apple, “I think it’s worth it to hold the stock, though, or buy it some, but at this very moment, I feel very alone,” Cramer said. “Maybe, just maybe, that’s exactly what it feels like to be near a bottom — at least in this one important stock, if not the rest of the tech sector. ”
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 202.09.
The projected upper bound is: 187.55.
The projected lower bound is: 159.18.
The projected closing price is: 173.37.
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 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 15.6458. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 6 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 29.37. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 57 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 -104.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 6 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 35 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed down -0.380 at 174.240. Volume was 18% above average (neutral) and Bollinger Bands were 154% wider than normal.
Open High Low Close Volume___
171.510 174.770 170.880 174.240 41,387,376
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 182.47 210.89 194.28
Volatility: 44 43 32
Volume: 44,197,112 38,692,000 31,705,626
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 10.3% 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 33 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an oversold condition.