Apple stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.StockInvest.us, 2 months ago
The Apple stock price fell by -1.22% on the last day (Wednesday, 28th Jul 2021) from $146.77 to $144.98. and has now fallen 3 days in a row. During the day the stock fluctuated 3.11% from a day low at $142.54 to a day high of $146.97. The price has fallen in 6 of the last 10 days and is down by -2.8% for this period. Volume has increased on the last day by 19 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 114 million shares were bought and sold for approximately $16.54 billion.
On July 28, 2021 "Sanford C. Bernstein" gave "$132.00" rating for AAPL. The price target was changed from $145.96to0.6%.Over the last 30 days, this security got 3 buy, 0 sell, and 0 hold ratings.
The stock lies in the middle of a wide 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 18.47% during the next 3 months and, with a 90% probability hold a price between $163.68 and $181.26 at the end of this 3-month period.
A sell signal was issued from a pivot top point on Wednesday, July 14, 2021, and so far it has fallen -2.80%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $146.81. On a fall, the stock will find some support from the long-term average at approximately $138.97. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
On the downside, the stock finds support just below today's level from accumulated volume at $133.48 and $127.85.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 $133.48. If this is broken, then the next support from accumulated volume will be at $127.85 and $126.85.
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 $4.43 between high and low, or 3.11%. For the last week, the stock has had a daily average volatility of 1.98%.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full Apple forecast and analysis here.