AAPL Analysis: Accelerating services revenue growth bullish for Apple Stock Price

Sourced from: https://www.countingpips.com/2019/06/aapl-analysis-accelerating-services-revenue-growth-bullish-for-apple-stock-price/

Over the daily span the S-AAPL: D1 has closed above the 200-day moving average MA(200) along with Fibonacci 38.2. That can be bullish.

Market Evaluation Supplied by IFCMarkets

  • The Parabolic index gives a buy signal.
  • The Donchian channel indicates uptrend: it has widened up.
  • The MACD index provides a bullish signal: it is under the signal line and the gap is narrowing.

Accelerating services sales growth bullish for Apple
Apple reported second quarter earnings of $58 billion, down 5% from exactly the same quarter one year ago, more than a month past. And while iPhone earnings came in at $31.05 billion, down but making up over 53 percent of Apple’s full earnings, services branch reach an all-time high of $11.5 billion in revenue. A month before the report, the business announced several new applications initiatives such as News Plus, Apple Arcade, along with Apple TV Plus. Even the Apple Arcade and Apple TV Plus services are anticipated to start this fall, and Apple counts on continuing double-digit development of services revenue to drive overall revenue increase as sales and units sold of Apple’s flagship product iPhone are under strain due to US-China trade dispute.
We consider the bullish momentum will probably last after the cost breaches over the top border of Donchian channel at 195.94. This level can be used for putting a order to buy. The stop loss may be put below the fractal low at 170.38. After placing the order, the stop loss is to be transferred every day to the upcoming fractal low, following Parabolic signals. Thus, we are changing the anticipated profit/loss ratio into the breakeven point. If the cost matches the stop loss amount (170.38) without realizing the order (195.94), we urge cancelling the order: the marketplace has undergone inner changes that were taken into consideration.

Apple counts services revenue growth to turn into another significant driver of expansion. Will the Apple stock price continue benefitting?

Technical Analysis Summary

Ranking Purchase
Purchase stop Above 195.94
Cease loss Here 170.38

AAPL is rising above MA(200) 06/12/2019 Technical Analysis IFC Markets chart