Apple stock price ended on $176.65 on Friday after losing 0.518%StockInvest.us, 4 weeks ago
The Apple stock price fell by -0.518% on the last day (Friday, 3rd Nov 2023) from $177.57 to $176.65. During the last trading day the stock fluctuated 2.00% from a day low at $173.35 to a day high of $176.82. The price has risen in 7 of the last 10 days and is up by 2.18% over the past 2 weeks. Volume has increased on the last day by 14 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, 78 million shares were bought and sold for approximately $13.70 billion.
On Nov 02, 2023, it was reported that Barclays gave AAPL a "Equal-Weight" grade with a "hold" action.
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 -3.89% during the next 3 months and, with a 90% probability hold a price between $159.72 and $177.49 at the end of this 3-month period.
The Apple stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $172.05 and $174.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 26, 2023, and so far it has risen 5.85%. Further rise is indicated until a new top pivot has been found. 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 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.
Apple finds support from accumulated volume at $176.30 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 $3.47 (2.00%) between high and low. For the last week, the stock has had daily average volatility of 1.78%.
Apple holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full Apple forecast and analysis here.