Apple was down less than the market on Monday following some analyst optimism regarding the iPhone 12 and the company’s vast services business. Other stocks in the Dow exposed to a worsening pandemic didn’t fare as well.
The company is launching new iPhones into a U.S. economy that has been both ravaged by the pandemic and propped up by the $2.2 trillion CARES Act passed in March. That stimulus bill, which sent checks to Americans and added a weekly $600 supplement to unemployment payments, almost certainly contributed to Apple’s strong results during the pandemic.
With a winter wave of COVID-19 looking like a certainty, a lack of new stimulus could make Apple’s pricey new iPhones a tough sell for consumers over the next few months. An iPhone 12 supercycle is possible, but it’s far from guaranteed.
Shares of the tech giant were down about 0.7% by late Monday morning. Apple stock is still up roughly 56% so far this year.
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players.
The Company sells a range of related software, services, accessories, networking solutions, and third-party digital content and applications.
The Company’s segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific.
The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa.
The Greater China segment includes China, Hong Kong and Taiwan.
The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Company’s other operating segments.
Its products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 125.01.
The projected lower bound is: 105.09.
The projected closing price is: 115.05.
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 25 white candles and 25 black 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 21.3055. This is not an overbought or oversold reading. The last signal was a buy 0 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 47.57. 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 36 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 -88. This is not a topping or bottoming area. The last signal was a sell 7 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 3 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 0.010 at 115.050. Volume was 100% below average (consolidating) and Bollinger Bands were 43% narrower than normal.
Open High Low Close Volume___
114.010 116.550 112.880 115.050 203,993
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 117.82 117.43 90.02
Volatility: 22 53 60
Volume: 116,111,944 164,451,648 168,954,960
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 27.8% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect volume flowing into and out of AAPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 8 periods.
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