Apple stock downgraded from Strong Buy Candidate to Buy Candidate after Wednesday trading session.

The Apple stock price fell by -0.0282% on the last day (Wednesday, 31st May 2023) from $177.30 to $177.25. During the last trading day the stock fluctuated 1.46% from a day low at $176.77 to a day high of $179.35. The price has risen in 7 of the last 10 days and is up by 3.01% over the past 2 weeks. Volume has increased on the last day by 45 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, 99 million shares were bought and sold for approximately $17.55 billion.

D.A. Davidson is very positive about AAPL and gave it a "" rating on Feb 03, 2023. The price target was set to 173.

The stock lies in the upper part of a narrow and strong rising 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 $177.71 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 16.06% during the next 3 months and, with a 90% probability hold a price between $198.99 and $206.25 at the end of this 3-month period.

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 30, 2023, and so far it has fallen -0.0282%. 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. The Apple stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $174.37 and $170.01. A breakdown below any of these levels will issue sell signals.

Apple finds support from accumulated volume at $173.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.58 between high and low, or 1.46%. For the last week the stock has had daily average volatility of 1.35%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Apple stock to perform well in the short-term.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.