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Apple stock price ended on $166.13 on Wednesday after gaining 3.82%

StockInvest.us, 1 month ago

Apple

The Apple stock price gained 3.82% on the last trading day (Wednesday, 3rd Aug 2022), rising from $160.01 to $166.13. During the day the stock fluctuated 3.63% from a day low at $160.75 to a day high of $166.59. The price has been going up and down for this period, and there has been a 8.55% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 million more shares were traded than the day before. In total, 82 million shares were bought and sold for approximately $13.69 billion.

Keybanc is very positive about AAPL and gave it a "$173.00 - $177.00" rating on Aug 02, 2022. The price target was changed from 173 to 177.Over the last 90 days, this security got 3 buy, 11 sell, and 0 hold ratings.

The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $172.66 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 4% during the next 3 months and, with a 90% probability hold a price between $138.83 and $179.57 at the end of this 3-month period.

Apple

Mostly positive signals in the chart today. 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 $159.41 and $146.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 16, 2022, and so far it has risen 27.73%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $146.50 and $142.56.There is 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 $146.50. If this is broken, then the next support from accumulated volume will be at $142.56 and $141.66.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.84 between high and low, or 3.63%. For the last week, the stock has had a daily average volatility of 2.35%.

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.