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

StockInvest.us, 3 months ago

Apple

The Apple stock price fell by -0.27% on the last day (Friday, 8th Oct 2021) from $143.29 to $142.90. During the day the stock fluctuated 1.14% from a day low at $142.56 to a day high of $144.18. The price has been going up and down for this period, and there has been a -2.74% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 59 million shares were bought and sold for approximately $8.37 billion.

On Oct 06, 2021 "JPMorgan Chase & Co." gave "$180.00" rating for AAPL. The price target was changed from $139.91 to 0.9%.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Apple stock with a 90% probability to be traded between $137.43 and $154.24 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Apple

A buy signal was issued from a pivot bottom point on Monday, October 04, 2021, and so far it has risen 2.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $147.50. On a fall, the stock will find some support from the short-term average at $141.80. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Apple finds support from accumulated volume at $142.45 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 $1.62 (1.14%) between high and low. For the last week, the stock has had a daily average volatility of 1.97%.

Apple holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Check full Apple forecast and analysis here.