Apple stock downgraded to Sell Candidate

The Apple stock price fell by -1.90% on the last day (Thursday, 13th Jan 2022) from $175.53 to $172.19. During the day the stock fluctuated 2.79% from a day low at $171.83 to a day high of $176.62. The price has been going up and down for this period, and there has been a -3.37% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -75 million shares and in total, 0 shares were bought and sold for approximately $0 .

On Jan 11, 2022 "Sanford C. Bernstein" gave "$132.00 - $170.00" rating for AAPL. The price target was set to $175.08+1.7%.

The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $173.92. A reaction back to this level may hold a second chance to get out before further falls.

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. On corrections up, there will be some resistance from the lines at $173.44 and $172.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, January 12, 2022, and so far it has fallen -1.90%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Apple finds support from accumulated volume at $171.14 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $4.79 between high and low, or 2.79%. For the last week the stock has had a daily average volatility of 2.22%

The Apple stock holds several negative signals and despite the positive trend, we believe Apple will perform weakly in the next couple of days or weeks. Therefore, we 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.