Apple unveils plans to reopen some US stores

Apple unveils plans to reopen some US stores

Apple on Friday said it will begin gradually reopening its retail shops in the US next week, taking pandemic precautions such as making sure everyone in them wears masks.

The iPhone maker planned to start with some stores in Alabama, Alaska, Idaho and South Carolina.

“We’ve missed our customers and look forward to offering our support,” Apple said in a statement to AFP.

“We’ll open initially with additional safety procedures including temperature checks, social distancing and face coverings to ensure customers and employees continue to stay healthy.”

Apple’s home state of California still has tight shelter-in-place rules but moved this week to let some business and industries get back in action provided they defend against spread of the coronavirus.

Apple said it is monitoring health data and government guidance to determine when and where it can safely reopen shops.

New protocols in Apple stores will include limiting the number of customers who can be inside, meaning probable delays for those who spontaneously stop by for technical help from a “Genius Bar.”

Apple recommended people order online for delivery or in-store pickup to limit personal contact.

The move by Apple comes with several US states moving to end or ease lockdowns but with polls indicating many Americans remain cautious about resuming normal activities.

Technical Indicators

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 285.76.

The projected upper bound is: 347.85.

The projected lower bound is: 273.88.

The projected closing price is: 310.86.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 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 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 92.9868. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 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 66.91. 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 48 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 141.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 15 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 30 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 6.390 at 310.130. Volume was 27% below average (neutral) and Bollinger Bands were 20% narrower than normal.

Open       High      Low      Close        Volume
305.640    310.350   304.290  310.130      33,511,984
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period      50-period       200-period
Close:           293.76         271.23          260.68
Volatility:      29             89              53
Volume:          36,574,240     54,439,340      35,816,352

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 19.0% 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 20 periods.

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