Apple stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.

The Apple stock price gained 0.0928% on the last trading day (Friday, 10th Feb 2023), rising from $150.87 to $151.01. During the last trading day the stock fluctuated 1.42% from a day low at $149.22 to a day high of $151.34. The price has risen in 6 of the last 10 days and is up by 3.48% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 57 million shares were bought and sold for approximately $8.68 billion.

Evercore ISI Group is very positive about AAPL and gave it a "" rating on Feb 06, 2023. The price target was set to 190.Over the last 90 days, this security got 8 buy, 10 sell, and 0 hold ratings.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $154.48 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -2.22% during the next 3 months and, with a 90% probability hold a price between $120.84 and $151.05 at the end of this 3-month period.

The Apple stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $152.21. On a fall, the stock will find some support from the long-term average at approximately $138.33. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, February 07, 2023, and so far it has fallen -2.35%. Further fall is indicated until a new bottom pivot has been found.

Apple finds support from accumulated volume at $148.03 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 $2.12 between high and low, or 1.42%. For the last week, the stock has had daily average volatility of 2.17%.

Apple holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.