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Apple stock price up 1.69% on Wednesday

StockInvest.us, 2 months ago

Apple

The Apple stock price gained 1.69% on the last trading day (Wednesday, 22nd Sep 2021), rising from $143.43 to $145.85. , and 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 day the stock fluctuated 1.90% from a day low at $143.70 to a day high of $146.43. The price has fallen in 6 of the last 10 days and is down by -5.97% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 176 thousand more shares were traded than the day before. In total, 75 million shares were bought and sold for approximately $10.99 billion.

On September 21, 2021 "Credit Suisse Group" gave "$150.00" rating for AAPL. The price target was changed from $142.94 to 2.1%.

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 $143.32 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 8.19% during the next 3 months and, with a 90% probability hold a price between $155.06 and $171.79 at the end of this 3-month period.

Apple

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. 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 $146.32 and $149.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, September 07, 2021, and so far it has fallen -6.92%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Apple finds support from accumulated volume at $145.64 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 $2.73 (1.90%) between high and low. For the last week, the stock has had a daily average volatility of 1.80%.

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.