Apple stock upgraded from Sell Candidate to Buy Candidate after Thursday trading session.StockInvest.us, 4 months ago
The Apple stock price gained 1.79% on the last trading day (Thursday, 13th May 2021), rising from $122.77 to $124.97. During the day the stock fluctuated 1.52% from a day low at $124.26 to a day high of $126.15. The price has been going up and down for this period, and there has been a -6.38% loss for the last 2 weeks. Volume fell on the last day by -5 million shares and in total, 106 million shares were bought and sold for approximately $13.19 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.
Sanford C. Bernstein does not see either upside or downside right now giving AAPL "Neutral" on their last update on May 11, 2021. The price target was set to $132.00.Over the last 30 days, this security got 24 buy, 1 sell, and 9 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 $122.58 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 6.25% during the next 3 months and, with a 90% probability hold a price between $130.24 and $145.80 at the end of this 3-month period.
The Apple stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $126.94 and $129.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, May 12, 2021, and so far it has risen 1.79%. Further rise is indicated until a new top pivot has been found. 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 $121.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.89 between high and low, or 1.52%. For the last week, the stock has had a daily average volatility of 1.97%.
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 Candidate to a Buy Candidate candidate.Check full Apple forecast and analysis here.