Apple stock price up 0.23% on MondayStockInvest.us, 2 months ago
The Apple stock price gained 0.23% on the last trading day (Monday, 26th Sep 2022), rising from $150.43 to $150.77. During the last trading day the stock fluctuated 2.76% from a day low at $149.64 to a day high of $153.77. The price has fallen in 6 of the last 10 days and is down by -7.75% for this period. Volume fell on the last day by -3 million shares and in total, 93 million shares were bought and sold for approximately $14.05 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Evercore ISI Group is very positive about AAPL and gave it a "$185.00 - $190.00" rating on Sep 20, 2022. The price target was changed from 185 to 190.Over the last 90 days, this security got 7 buy, 7 sell, and 0 hold ratings.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $150.67 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 8.95% during the next 3 months and, with a 90% probability hold a price between $164.15 and $197.11 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $152.82 and $161.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, August 17, 2022, and so far it has fallen -13.62%. Further fall is indicated until a new bottom pivot has been found.
Apple finds support from accumulated volume at $150.70 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 $4.13 (2.76%) between high and low. For the last week, the stock has had daily average volatility of 2.74%.
The Apple stock holds several negative signals and despite the positive trend, we believe Apple will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Check full Apple forecast and analysis here.