House Speaker Nancy Pelosi made two major stock purchases on June 15, 2023, buying $250,000 to $500,000 worth of Apple Inc. (AAPL) and $500,000 to $1,000,000 worth of Microsoft Corporation (MSFT). The trades were filed with the Securities and Exchange Commission (SEC) on June 22, 2023.
The purchases were made through Pelosi’s husband, Paul Pelosi, who is a venture capitalist. Paul Pelosi has been a frequent trader of stocks, and his trades have often been the subject of scrutiny.
In the case of the Apple and Microsoft purchases, it is unclear why Pelosi decided to buy these stocks. Apple is the world’s largest technology company, and Microsoft is the world’s largest software company. Both stocks have a long history of growth, and they are expected to continue to grow in the future.
Pelosi is a powerful figure in Congress, and she has access to information that could affect the stock market. Pelosi is responsible for overseeing legislation that could affect the tech industry. Her husband’s investments in Apple and Microsoft could create a conflict of interest if she were to take any actions that could benefit these companies.
Microsoft Corporation
Microsoft Corporation is a technology company. The Company develops and supports software, services, devices and solutions. It operates through three segments. The Productivity and Business Processes segment consists of products and services in its portfolio of productivity, communication, and information services, spanning a variety of devices and platforms. This segment includes Office Commercial comprising Office (including Office 365 subscriptions), Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Microsoft Viva; Office Consumer, LinkedIn, and Dynamics business solutions. Intelligent Cloud segment consists of the Company’s public, private, and hybrid server products and cloud services, including Azure and other cloud services; SQL Server, Windows Server, Visual Studio, System Center, and related Client Access Licenses, and Nuance and GitHub. More Personal Computing segment primarily comprises Windows, Devices, Gaming, and search and news advertising.
On 6/23/2023, MICROSOFT CP(Trade Price) closed down -4.6900 at 335.0200 on volume 20.25% below average.
Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
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Summary
MICROSOFT CP(Trade Price) is currently 26.1% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of MSFT.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on MSFT.O and have had this outlook for the last 67 periods.
Bollinger Bands
On 6/23/2023, MICROSOFT CP(Trade Price) closed below the upper band by 43.9%.
Bollinger Bands are 30.94% narrower than normal. The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
The recent price action around the bands compared to the action of the Relative Strength Index (RSI) does not suggest any trading opportunities at this time.
Candlesticks
A white body occurred (because prices closed higher than they opened).
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 27 white candles and 23 black candles for a net of 4 white candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
APPLE INC.
Apple Inc. (Apple) designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories and sells a range of related services. The Company’s products include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and accessories. The Company operates various platforms, including the App Store, which allows customers to discover and download applications and digital content, such as books, music, video, games and podcasts. Apple offers digital content through subscription-based services, including Apple Arcade, Apple Music, Apple News+, Apple TV+ and Apple Fitness+. Apple also offers a range of other services, such as AppleCare, iCloud, Apple Card and Apple Pay. Apple sells its products and resells third-party products in a range of markets, including directly to consumers, small and mid-sized businesses, and education, enterprise and government customers through its retail and online stores and its direct sales force.
On 6/23/2023, APPLE INC(Trade Price) closed down -0.3200 at 186.6800 on volume 10.57% below average.
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Summary
APPLE INC(Trade Price) is currently 21.4% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into AAPL.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 65 periods.
Bollinger Bands
On 6/23/2023, APPLE INC(Trade Price) closed below the upper band by 15.1%.
Bollinger Bands are 14.22% narrower than normal. The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
The recent price action around the bands compared to the action of the Relative Strength Index (RSI) does not suggest any trading opportunities at this time.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.
