Apple stock price up 0.508% on Thursday
StockInvest.us, 1 month ago
The Apple stock price gained 0.508% on the last trading day (Thursday, 26th Sep 2024), rising from $226.37 to $227.52. During the last trading day the stock fluctuated 1.37% from a day low at $225.41 to a day high of $228.50. The price has been going up and down for this period, and there has been a 2.13% gain for the last 2 weeks. Volume fell on the last day by -4 million shares and in total, 36 million shares were bought and sold for approximately $8.26 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.
On Sep 25, 2024, it was reported that Wedbush gave AAPL a "Buy" grade with a "hold" action.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Apple stock with a 90% probability to be traded between $209.88 and $238.12 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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 $226.50 and $223.60. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, August 06, 2024, and so far it has risen 9.79%. Further fall is indicated until a new bottom pivot has been found.
Apple finds support from accumulated volume at $222.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $3.09 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.69%.
Several short-term signals 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 period.
Check full Apple forecast and analysis here.