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Apple stock price ended on $126.85 on Wednesday after losing 0.0394%

StockInvest.us, 3 months ago

Apple

The Apple stock price fell by -0.0394% on the last day (Wednesday, 26th May 2021) from $126.90 to $126.85. and has now fallen 3 days in a row. During the day the stock fluctuated 0.77% from a day low at $126.42 to a day high of $127.39. The price has fallen in 6 of the last 10 days, but is still up by 3.32% over the past 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 -17 million shares and in total, 54 million shares were bought and sold for approximately $6.91 billion.

Barclays does not see either upside or downside right now giving AAPL "Equal Weight" on their last update on May 25, 2021. The price target was set to $138.00 → $134.00.Over the last 30 days, this security got 21 buy, 0 sell, and 10 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 6.27% during the next 3 months and, with a 90% probability hold a price between $131.62 and $147.14 at the end of this 3-month period.

Apple

A buy signal was issued from a pivot bottom point on Wednesday, May 12, 2021, and so far it has risen 3.32%. Further rise is indicated until a new top pivot has been found. 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. The Apple stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $130.02. On a fall, the stock will find some support from the short-term average at $126.16. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 $121.42 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 $0.97 (0.77%) between high and low. For the last week, the stock has had a daily average volatility of 1.65%.

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.