Apple stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.StockInvest.us, 3 months ago
The Apple stock price gained 1.90% on the last trading day (Friday, 4th Jun 2021), rising from $123.54 to $125.89. During the day the stock fluctuated 1.87% from a day low at $123.85 to a day high of $126.16. The price has fallen in 7 of the last 10 days and is down by -1.12% for this period. Volume fell on the last day by -825 thousand shares and in total, 75 million shares were bought and sold for approximately $9.38 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.
The last rating was given by New Street Research on May 28, 2021. The price target was set to $90.00.Over the last 30 days, this security got 10 buy, 1 sell, and 6 hold ratings.
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 $124.19 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 4.22% during the next 3 months and, with a 90% probability hold a price between $129.43 and $143.57 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Wednesday, May 12, 2021, and so far it has risen 2.54%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months 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. The Apple stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $128.68. On a fall, the stock will find some support from the short-term average at $125.07. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Apple finds support from accumulated volume at $121.42 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 $2.31 between high and low, or 1.87%. For the last week the stock has had a daily average volatility of 1.27%.
Several short-term signals, along with a general good trend, 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell Candidate to a Buy Candidate candidate.Check full Apple forecast and analysis here.