Apple stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.StockInvest.us, 4 months ago
The Apple stock price gained 0.51% on the last trading day (Friday, 14th Jan 2022), rising from $172.19 to $173.07. During the day the stock fluctuated 1.57% from a day low at $171.09 to a day high of $173.78. The price has risen in 6 of the last 10 days, but is still down by -2.53% for this period. Volume fell on the last day by -6 million shares and in total, 79 million shares were bought and sold for approximately $13.63 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.
On Jan 11, 2022 "Sanford C. Bernstein" gave "$132.00 - $170.00" rating for AAPL. The price target was set to $175.08+1.7%.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $172.78 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 24.88% during the next 3 months and, with a 90% probability hold a price between $215.77 and $233.95 at the end of this 3-month period.
A sell signal was issued from a pivot top point on Monday, January 03, 2022, and so far it has fallen -4.91%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $173.18. On a fall, the stock will find some support from the long-term average at approximately $172.84. 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. 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.
Apple finds support from accumulated volume at $172.19 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 $2.69 (1.57%) between high and low. For the last week, the stock has had a daily average volatility of 2.17%.
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 Sell to a Buy candidate.Check full Apple forecast and analysis here.