Apple near All-Time Highs!Hello, Traders!
Monfex is at your service and today we overview AAPL.
What do you expect from Apple ?
Loud presentation, nothing special, no new products, no revolutionary technologies... Stocks simply continue to grow, the artificiality of this growth is very felt.
On the chart, we see how a small bullish flag was formed, inside a large ascending channel, which is aimed at the previous highs and highs for the entire history of Apple of trading on the stock exchange.
A deep triple bearish divergence is visible on the RSI indicator, which gives us reason to doubt the continued growth of such a strong mark of price resistance.
The expected reversal is possible near the zone of annual resistance of the zone and at the resistance of the ascending channel, upon reaching which it will be an overly strong sell signal!
By breakout the support line we can assume a target near ~ $146.
Share your thoughts, ideas about the market under the chart.
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GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Appleinc
APPLE BUY 4HApple had the reveal of their new products yesterday. Millions of buyers around the world are already queuing up to buy these products. Since the launch the stock has had a increase of +5.32 (2.46%). Buyers (80%) have outnumbered the sellers (20%) , pushing the market upwards. A buy will be suitable to this situation, let the new phone pay for itself lol.
APPLE TO ANNOUNCE NEW iPHONE 11 Hi friends, so today i just wanted to give a quick technical analysis of the Apple stock as they announcement the new iPhone 11 on 9/11/2019. to begin with, we see that the stock created its support at 142.23 in the beginning of January 2019, then made its high of 215.47 in May 2019. The stock then retraced to 0.618(61.8%) also know as the golden ratio in June 2019, At this point it began what we assume is the wave 3, which i normally the longest wave. currently the stock broke its previous high of wave 1 and made a retracement of 38% at (ii). we expect the stock to continue its uptrend. Our first take profit is at resistance level 223.67 and TP2 is 256.42, stop loss is at (ii) 192.00 respectively.
Please comment and share your thoughts.
I am a Certified Financial Market Analyst.
Thank you!
Apple & Foxconn Broke Labor Law for iPhonesApple, together with its manufacturing partner, Foxconn violated a Chinese labor rule. The two firms are using too many temporary staff in the world’s largest iPhone factory. In addition to that, the companies confirmed this after a report about them with allegedly harsh working conditions.
And these claims were from China Labor Watch, who issued the report before an Apple event on Tuesday to announce new iPhones. The non-profit advocacy group is investigating conditions in Chinese factories. Aside from that, it has found out other alleged labor rights violations by Apple partners in the past.
Recently, CLW stated undercover investigators worked in Zhengzhou plant of Foxconn in China. And this includes a person employed for four years. Then, one of the main findings is the Temporary staff, also known as dispatch workers. Also, they made up around 50% of the workforce in August. In the Chinese labor law, it stipulates a maximum of 10%, according to CLW.
Apple and Foxconn Side
After conducting the investigation, Apple explained that it found the dispatch workers’ percentage exceeding its standards. And as of now, it is working carefully with Foxconn to resolve the matter. Also, Foxconn Technology Group confirmed the violation after an operational review.
For years, the supply chain of Apple never stopped facing criticism regarding its poor labor standards. And the firm had encouraged its manufacturing partners to have better factory conditions or risk losing business. But suppliers and assemblers are always attempting to churn out more handsets. Formally called as Hon Hai Precision Industry Co., Foxconn, employed tens of thousands of temporary workers. And they did this to boost production and meet iPhone demand during the key holiday season every year.
CLW stated in its report, “Our recent findings on working at Zhengzhou Foxconn highlights several issues.” And these “are in violation of Apple’s own code of conduct.” It also added that Apple has the power to make fundamental improvements to the working conditions along its supply chain. However, it is currently transferring costs from the trade war through its suppliers to workers and profiting from the exploitation of Chinese workers.
More stock news
Apple Inc (AAPL) Starts Crashing Hard, Can Go Lower!Apple Inc (AAPL) the biggest read candlestick in a while to break below EMA10. Multiple signals are telling that this isn't the end... AAPL can go lower, let's take a look.
We have increasing red volume.
We are looking at a MACD that is trending lower.
The RSI moved below 50 (at 47.19 right now) and is clearly looking down.
EMA50 (202.60) worked as support and held Apple's drop... Normally we see a bounce here before additional bearish action. I am getting the feeling that there won't be any bounce, it will be pure blood on Monday... But this is just a guess.
If EMA50 can't hold (breaks), then expect for AAPL to move even lower and test 198.01 or EMA100.
How far low can it go?
For starter, I believe it can easily test EMA300 at 189.40. Depending on how things develop, a bounce can happen here or it can continue going lower.
My guess, you ask?
Apple Inc. will have a really hard time and can continue much lower. It might test the last low (blue dashed line).
Chart
Magenta lines = resistance.
Blue lines = support.
Thanks a lot for reading.
Share your thoughts in the comments section below.
Namaste.
AAPL Earnings Report Gap FailsAlthough Apple news claimed that the company “beat expectations,” the stock gapped up and quickly reversed, then moved down further. This is due to their Guidance for the next quarter. Many companies are able to beat the analysts’ estimates, but forecast lower for next earnings season.
APPLE (AAPL) Short OpportunityHi guys its Brian here with a Short setup for APPLE (APPL)
As you can see from the chart, APPL is falling down hard for 3 days straight. Long red bars like these indicate that there is a lot of volatility and selling pressure and the price is very likely to continue dropping further.
I have identified a good price level to take profit for the short term and longer term as well.
Take Profit: 190
TP2: 180-183
Stop Loss: 210.3
www.brianchai.com
Free Trading Group (signals, news, price alerts & more!)
Apple Surpassed China’s ExpectationsApple outperformed the expectations of China. And this has been one of the key factors which led to a disappointing quarters earlier this year. Tim Cook, the Apple CEO, said that the chopping of the Chinese VAT tax was a great help. Also, he did not see any hints of a nationalistic boycott of the American firm in China.
Cook stated, “The VAT reduced from 16% to 13%. That’s clearly a big help.” He also said that the meeting of China and the United States is better than nothing at all.
In its Greater China category, Apple reported a $9.61 billion in sales, including Taiwan and Hong Kong. During the last quarter, the firm’s Greater China sales fell 22%. And China sales decline by 4% only. Then, Apple CEO stated that the company revived its growth to mainland China.
Acquisition of Apple
Earlier this month, Apple bought the modem division of Intel for $1 billion. And thinking about it, it is a quite unusual large amount for the firm. Cook confirmed that it is actually their most expensive acquisition by dollars and their largest when it comes to staff.
Furthermore, these modems are semiconductor components which work to connect to cellular networks similar to what Verizon and AT&T operate. Previously, the American firm resolved its long-standing legal dispute with Qualcomm. And it signed a deal to buy smartphone components such as modems from Qualcomm for a few years. Before that, the firm tried to work with Intel in an attempt to replace Qualcomm as its supplier.
Credit Card of Apple
In the fiscal third-quarter earnings call on Tuesday, Tim Cook announced that the firm’s Apple Card would launch in August.
Last March, the tech giant announced its new credit card in its services event. At the same time, the company unveiled its Apple TV+ streaming video service, Apple Channels, and Apple News+.
In addition to that, the firm’s Card can be its stepping stone for more financial services in the Wallet app in the future.
Apple Elliott Wave View: Break Higher Is ImminentElliott wave view in Apple ticker symbol: $AAPL suggests that rally from June 04 low ($170.27) is showing nesting higher as impulse Elliott wave structure where a pullback to $197.60 ended lesser degree wave ((iv)). Up from there, the stock rallied higher in 5 waves structure and ended wave ((v)) $206.11 high, which also completed wave 1. Down from there, the stock corrected the rally from 6/14/2019 low in wave 2 pullback.
The internals of that pullback unfolded as an Elliott wave Flat structure where wave ((a)) ended in 3 swings at $202.80 low. Wave ((b)) bounce ended with another 3 waves at $206.70 high. Down from there, wave ((c)) unfolded in lesser degree 5 waves & ended the wave 2 pullback at $202.23 low. Above from there, the stock already made a new high above previous peaks making the 1-hour cycle from June 04 & June 14 low bullish to the upside favoring more strength.
Near-term, while dips remain above $202.23 low expect the stock to extend higher in an impulse structure looking for more strength & to see a break above May 2019 peak to catch up with rest of indices & ETF’s like SPX, YM & XLK, etc. We don’t like selling the stock & expect intraday buyers to appear in 3, 7 or 11 swings. As far as a pivot from $202.23 low stays intact.
Elliott Wave View: Apple (AAPL) Can See More UpsideShort Term Elliott wave view in Apple (AAPL) is calling the decline to 170.44 on June 4 as wave II. Wave III is currently in progress. Up from 170.44, Wave (1) has ended at 196.79 as a 5 waves impulse. Wave 1 ended at 184.99 and wave 2 pullback ended at 181.14. Wave 3 ended at 196, wave 4 ended at 194.57, and wave 5 ended at 196.79.
The stock is pulling back in wave (2) in 3, 7, or 11 swing to correct cycle from June 4 low. The internal of wave (2) is unfolding as a zigzag Elliott Wave structure where wave A of (2) should end with 1 more push lower into 188.46-184.42 area before a reaction higher should be seen. We dont like selling it and as long as pivot at 170.44 stays intact we expect it to extend higher.
$AAPL, Should investors panic over share slide?The culprit is US policy, trade war frictions, and the dollar. If Chinese revenues continue to decline, it will have an overall impact on Apple. So I think the investors expect the continuation of the conflict and therefore selling shares ~$190 while they can...
In my view the chart shows the negative investors sentiments.
Support ~ $160 - $165
Resistance ~ $190 - $200
Prediction ~ $150 per share by EOY.
GL.