Apple stock price ended on $193.15 on Wednesday after gaining 0.0518%

The Apple stock price gained 0.0518% on the last trading day (Wednesday, 27th Dec 2023), rising from $193.05 to $193.15. During the last trading day the stock fluctuated 1.26% from a day low at $191.09 to a day high of $193.50. The price has fallen in 6 of the last 10 days and is down by -0.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately $8.86 billion.

On Dec 18, 2023, it was reported that Wedbush gave AAPL a "Outperform" grade with a "hold" action.

The stock lies in the middle of a strong 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 15.95% during the next 3 months and, with a 90% probability hold a price between $215.31 and $233.87 at the end of this 3-month period.

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 $194.59. On a fall, the stock will find some support from the long-term average at approximately $191.32. 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. 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. A sell signal was issued from a pivot top point on Thursday, December 14, 2023, and so far it has fallen -2.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $181.82 and $176.65.There is a 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 $181.82. If this is broken, then the next support from accumulated volume will be at $176.65 and $166.89.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.41 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.28%.

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.