Apple Inc. (NASDAQ:AAPL) wearable devices can give consumers “a bigger role” in their health and preventative care
Apple CEO Tim Cook’s vision for health-care services has gotten a stamp of approval from a past chief of the tech giant.
John Sculley, who helmed the company from 1983 to 1993, told CNBC on Thursday that Cook is “absolutely onto something” with his plans to inject Apple into the health-care space and that “it may well be the great legacy that he’s talking about.”
In an exclusive interview earlier this week, Cook told Mad Money’s Jim Cramer that “Apple’s greatest contribution to mankind” will be in health services, an area that the company has been increasingly focused on in recent years.
“I believe … [it will] go from curiosity to useful to indispensable,” Sculley said on “Squawk Alley.” “And indispensable means it’s got to do things that are significantly more capable in terms of health and preventative care than what we have today — with wearable devices or things [that] enable people to do more self-diagnosis, where the consumer can have a bigger role, just as they have in other industries.”
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 180.73.
The projected upper bound is: 168.23.
The projected lower bound is: 136.87.
The projected closing price is: 152.55.
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 23 white candles and 27 black candles for a net of 4 black 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 74.9439. This is not an overbought or oversold reading. The last signal was a sell 5 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 41.71. 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 4 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 11. This is not a topping or bottoming area. The last signal was a buy 3 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 buy 8 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 0.490 at 153.800. Volume was 14% below average (neutral) and Bollinger Bands were 7% wider than normal.
Open High Low Close Volume___
152.500 153.970 150.860 153.800 35,780,672
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 152.43 176.71 192.53
Volatility: 70 57 38
Volume: 49,405,376 46,896,704 33,613,568
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 20.1% 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 62 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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