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Apple stock price ended on $123.75 on Monday after gaining 1.23%

StockInvest.us, 11 months ago

Apple

The Apple stock price gained 1.23% on the last trading day (Monday, 7th Dec 2020), rising from $122.25 to $123.75. During the day the stock fluctuated 1.90% from a day low at $122.25 to a day high of $124.57. The price has risen in 7 of the last 10 days and is up by 5.46% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 86 million shares were bought and sold for approximately $10.63 billion.

Loop Capital is very positive to AAPL and gave it a "Hold - Buy" rating on November 30, 2020. The price target was set to $110.00 - $131.00.Over the last 30 days, this security got 5 buy, 2 sell and 2 hold ratings.

The stock lies in the middle of a wide and weak 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 6.33% during the next 3 months and, with a 90% probability hold a price between $118.77 and $137.34 at the end of this 3-month period.

Apple

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 $121.48 and $117.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 02, 2020, and so far it has risen 13.77%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Apple finds support from accumulated volume at $121.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $2.32 (1.90%) between high and low. For the last week, the stock has had a daily average volatility of 1.84%.

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.