Promises of innovation won’t necessarily convince consumers or boost Apple Inc. (NASDAQ:AAPL) stock

Promises of innovation won’t necessarily convince consumers or boost Apple Inc. (NASDAQ:AAPL) stock

Promises of innovation won’t necessarily convince consumers or boost Apple Inc. (NASDAQ:AAPL) stock

Apple (NASDAQ:AAPL) CEO Tim Cook certainly used all the right buzz words and enthusiasm-stoking terms at the company’s annual meeting in early March, hoping to convince the owners of Apple stock that the future would be brighter than the recent past has felt. In short, Cook said the tech giant is developing products that will “blow you away,” even if he couldn’t say what those products are.

And maybe those planned innovations truly will be game-changers.

If investors care to be brutally honest with themselves, though, they’ve seen this routine before from AAPL. Each time they see it, the number of adverbs and adjectives ramps up, while the number of subsequent, true innovations is pared down.

The tipping point for the worse was actually reached last year.

Overall, the bias in prices is: Sideways.

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

By the way, prices are vulnerable to a correction towards 173.73.

The projected upper bound is: 184.18.

The projected lower bound is: 162.68.

The projected closing price is: 173.43.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
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 28 white candles and 22 black candles for a net of 6 white 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 29.2994. This is not an overbought or oversold reading. The last signal was a sell 19 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 55.75. 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 43 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 -80. This is not a topping or bottoming area. The last signal was a sell 3 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 sell 6 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 0.410 at 172.910. Volume was 38% below average (neutral) and Bollinger Bands were 73% narrower than normal.

Open High Low Close Volume___
170.320 173.070 169.500 172.910 23,999,358

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

Moving Averages: 10-period 50-period 200-period
Close: 174.29 163.48 190.81
Volatility: 13 45 38
Volume: 23,766,026 32,646,006 32,693,668

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 9.4% below 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 29 periods.

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