The Greedy Trader Weekly Analysis
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Apple Computer (AAPL)

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Summary:
Weekly :Overbought sectorRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtTrend support at 352.85
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought areaA Parabolic SAR indicator is above and near the price
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It was a fourth consecutive positive week for the Apple Computer (AAPL). During the week, the AAPL gained 3.91 points, or 1.12%, and closed at 353.63 on Friday, June 26, 2020. Weekly volume was -7% below average.

AAPL is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AAPL long-term trend chart]
A long-term uptrend had started on January 3, 2019 at 142.00 and reached 372.38 on June 23, 2020. AAPL gained -230.38 points, or -162.24%, in 76 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 228.84 and resistance is at 390.11. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See AAPL medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 212.61 and reached 372.38 on June 23, 2020. AAPL gained -159.77 points, or -75.15%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (352.85) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See AAPL weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AAPL short-term trend chart]
A short-term uptrend had started on April 21, 2020 at 265.43 and reached 372.38 on June 23, 2020. AAPL gained -106.95 points, or -40.29%, in 63 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 349.09 and resistance is at 372.43. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See AAPL daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since June 5, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (351.65) comes close to the price (353.63). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.68
Williams' Percentage Range (W%R) 14.40
Overbought
Lane's Stochastic (%D-Slow) 73.08
Greed/Fear Indicator (GFI) 73.11
Moving Average Converg./Diverg. (MACD) 12.62
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 93.25
Strong Overbought
Williams' Percentage Range (W%R) 5.00
Strong Overbought
Lane's Stochastic (%D-Slow) 93.66
Strong Overbought
Greed/Fear Indicator (GFI) 85.82
Overbought
Moving Average Converg./Diverg. (MACD) 14.23
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 390.11
Monthly Trendline Resistance 378.26
Weekly Trendline Resistance 372.43
Upper Bollinger Band 372.13
Weekly Stochastic Crossing 366.79
Daily Stochastic Crossing 363.37
Price 353.63
Monthly Trendline Support 352.85
Parabolic System 351.65
Weekly Trendline Support 349.09
20 Day Moving Average 344.06
50 Day Moving Average 317.73
Lower Bollinger Band 316.18
Sector and Industry
Description Name Rank
Sector Information Technology 12
Industry Technology Hardware, Storage & Peripherals 25
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 372.38
High Date 06/23/2020
Low 353.02
Low Date 06/26/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 372.43
Support 349.09
Low 265.43
Low Date 04/21/2020
High 372.38
High Date 06/23/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 378.26
Support 352.85
Low 212.61
Low Date 03/23/2020
High 372.38
High Date 06/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 390.11
Support 228.84
Low 142.00
Low Date 01/03/2019
High 372.38
High Date 06/23/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 89.47
Low Date 05/12/2016
High 372.38
High Date 06/23/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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