Apple stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.StockInvest.us, 1 month ago
The Apple stock price gained 2.62% on the last trading day (Wednesday, 10th Aug 2022), rising from $164.92 to $169.24. , 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 last trading day the stock fluctuated 1.46% from a day low at $166.90 to a day high of $169.34. The price has been going up and down for this period, and there has been a 7.94% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 70 million shares were bought and sold for approximately $11.82 billion.
Keybanc is very positive about AAPL and gave it a "$173.00 - $177.00" rating on Aug 02, 2022. The price target was changed from 173 to 177.Over the last 90 days, this security got 3 buy, 11 sell, and 0 hold ratings.
Given the current short-term trend, the stock is expected to rise 14.05% during the next 3 months and, with a 90% probability hold a price between $162.53 and $193.02 at the end of this 3-month period.
Mostly positive signals in the chart today. 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 $165.19 and $150.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 16, 2022, and so far it has risen 30.12%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $146.50 and $142.56.There is 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 $146.50. If this is broken, then the next support from accumulated volume will be at $142.56 and $141.66.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.44 between high and low, or 1.46%. For the last week, the stock has had a daily average volatility of 1.73%.
Apple holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.Check full Apple forecast and analysis here.