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The Apple stock price fell by -1.49% on the last day (Thursday, 9th Mar 2023) from $152.87 to $150.59. During the last trading day the stock fluctuated 2.87% from a day low at $150.23 to a day high of $154.54. The price has been going up and down for this period, and there has been a 0.8% gain for the last 2 weeks. Volume has increased on the last day by 6 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, 53 million shares were bought and sold for approximately $8.05 billion.
Wedbush is very positive about AAPL and gave it a "$180.00 - $190.00" rating on Mar 08, 2023. The price target was changed from 180 to 190.Over the last 90 days, this security got 11 buy, 10 sell, and 0 hold ratings.
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 17.47% during the next 3 months and, with a 90% probability hold a price between $167.41 and $189.64 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 Wednesday, February 15, 2023, and so far it has fallen -3.05%. 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 $150.16 and $148.44. A breakdown below any of these levels will issue sell signals.
On the downside, the stock finds support just below today's level from accumulated volume at $136.50 and $134.51.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Apple finds support just below today's level at $136.50. If this is broken, then the next support from accumulated volume will be at $134.51 and $125.07.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.31 (2.87%) between high and low. For the last week, the stock has had daily average volatility of 2.06%.
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.
Check full Apple forecast and analysis here.