Apple stock price ended on $194.50 on Wednesday after gaining 0.454%

The Apple stock price gained 0.454% on the last trading day (Wednesday, 26th Jul 2023), rising from $193.62 to $194.50. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.20% from a day low at $193.32 to a day high of $195.64. The price has risen in 7 of the last 10 days and is up by 2.49% 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, 10 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately $8.92 billion.

D.A. Davidson is very positive about AAPL. The price target was set to 173 (Feb 03, 2023).

The stock lies in the middle of a narrow and 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 16.91% during the next 3 months and, with a 90% probability hold a price between $223.88 and $230.82 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. 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 $193.54 and $188.34. A breakdown below any of these levels will issue sell signals. 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 Wednesday, July 19, 2023, and so far it has fallen -0.308%. 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 $179.58 and $177.25.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 $179.58. If this is broken, then the next support from accumulated volume will be at $177.25 and $173.57.

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 $2.32 between high and low, or 1.20%. For the last week the stock has had daily average volatility of 1.46%.

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.