A very strong day for Apple stock price on Friday

The Apple stock price gained 6.98% on the last trading day (Friday, 28th Jan 2022), rising from $159.22 to $170.33. During the day the stock fluctuated 4.64% from a day low at $162.80 to a day high of $170.35. The price has fallen in 8 of the last 10 days and is down by -1.08% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 67 million more shares were traded than the day before. In total, 175 million shares were bought and sold for approximately $29.84 billion.

On Jan 25, 2022 "The Goldman Sachs Group" gave "$142.00" rating for AAPL. The price target was changed from $159.78 to 1.1%.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 13.86% during the next 3 months and, with a 90% probability hold a price between $181.71 and $214.83 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 6.98%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $172.53. On a fall, the stock will find some support from the short-term average at $162.51. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Apple finds support from accumulated volume at $165.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.55 between high and low, or 4.64%. For the last week, the stock has had a daily average volatility of 4.18%.

Apple holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.