Apple stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.StockInvest.us, 2 weeks ago
The Apple stock price fell by -2.46% on the last day (Monday, 4th Oct 2021) from $142.65 to $139.14. During the day the stock fluctuated 2.85% from a day low at $138.27 to a day high of $142.21. The price has risen in 6 of the last 10 days, but is still down by -2.66% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 98 million shares were bought and sold for approximately $13.62 billion.
On Sep 27, 2021 "Credit Suisse Group" gave "$150.00" rating for AAPL. The price target was changed from $145.37 to 1.1%.
Given the current horizontal trend, you can expect Apple stock with a 90% probability to be traded between $140.07 and $158.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are few to no technical positive signals at the moment. The Apple stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $142.90 and $148.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, September 07, 2021, and so far it has fallen -11.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $3.94 between high and low, or 2.85%. For the last week, the stock has had a daily average volatility of 2.33%.
Apple holds several negative signals and is within a wide and falling trend, so we believe 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.Check full Apple forecast and analysis here.