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Apple stock price ended on $117.34 on Friday after losing 1.1%

StockInvest.us, 10 months ago

Apple

The Apple stock price fell by -1.10% on the last day (Friday, 20th Nov 2020) from $118.64 to $117.34. During the day the stock fluctuated 1.26% from a day low at $117.29 to a day high of $118.77. The price has fallen in 6 of the last 10 days and is down by -1.14% for this period. 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 -2 million shares and in total, 72 million shares were bought and sold for approximately $8.40 billion.

The last rating was given by The Goldman Sachs Group on November 19, 2020. The price target was set to $75.00.Over the last 30 days, this security got 7 buy, 3 sell and 7 hold ratings.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.94% during the next 3 months and, with a 90% probability hold a price between $99.24 and $117.32 at the end of this 3-month period.

Apple

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 $118.88. On a fall, the stock will find some support from the long-term average at approximately $116.77. 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 months Moving Average Convergence Divergence (MACD). 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 Monday, October 12, 2020, and so far it has fallen -5.68%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Apple finds support from accumulated volume at $112.82 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 a day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.48 between high and low, or 1.26%. For the last week, the stock has had daily average volatility of 1.72%.

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.

Check full Apple forecast and analysis here.