Apple stock upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.

The Apple stock gained 1.70% in the last trading day (Wednesday, 7th Oct 2020), rising from $113.16 to $115.08. During the day the stock fluctuated 1.24% from a day low at $114.13 to a day high of $115.55. The price has risen in 7 of the last 10 days and is up by 7.43% over the past 2 weeks. Volume fell in the last day by -63 million shares and in total, 96 million shares were bought and sold for approximately $11.06 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 September 25, 2020 "BNP Paribas" gave "Underperform - Outperform" rating for AAPL. The price target was set to $77.00 - $140.00.Over the last 30 days this security got 5 buy, 0 sell and 1 hold ratings.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $110.65 is broken, it will firstly indicate a slower rising rate, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 18.75% during the next 3 months and, with a 90% probability hold a price between $131.39 and $169.81 at the end of this 3-month period.

There are mixed signals in the stock today. 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 sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $117.33. On a fall, the stock will find some support from the short-term average at $114.92. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Tuesday September 01, 2020 , and it has fallen so far -14.23%. Further fall is indicated until a new bottom 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.

On the downside, the stock finds support just below today's level from accumulated volume at $108.74 and $106.84.There is 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 $108.74. If this is broken, then the next support from accumulated volume will be at $106.84 and $106.06.

This stock have average movements during a day and with good trading volume the risk is considered as medium. During the last day, the stock moved $1.42 between high and low, or 1.24%. For the last week, the stock has had daily average volatility of 2.37%.

Apple holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate candidate.