Apple stock upgraded from Hold/Accumulate to Strong Buy Candidate after Friday trading session.

The Apple stock price gained 4.69% on the last trading day (Friday, 5th May 2023), rising from $165.79 to $173.57. During the last trading day the stock fluctuated 2.07% from a day low at $170.76 to a day high of $174.30. The price has fallen in 6 of the last 10 days but is still up by 5.18% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 million more shares were traded than the day before. In total, 109 million shares were bought and sold for approximately $19.00 billion.

D.A. Davidson is very positive about AAPL and gave it a "" rating on Feb 03, 2023. The price target was set to 173.

The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $174.37 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 14.51% during the next 3 months and, with a 90% probability hold a price between $185.17 and $199.67 at the end of this 3-month period.

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 $169.00 and $163.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 12, 2023, and so far it has risen 8.41%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $163.76 and $155.00.There is a 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 $163.76. If this is broken, then the next support from accumulated volume will be at $155.00 and $153.83.

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 $3.54 between high and low, or 2.07%. For the last week the stock has had daily average volatility of 1.75%.

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 Hold/Accumulate to a Strong Buy candidate.