Apple stock upgraded to Buy Candidate.StockInvest.us, 1 month ago
The Apple stock price fell by -0.0777% on the last day (Wednesday, 20th Apr 2022) from $167.36 to $167.23. During the day the stock fluctuated 1.67% from a day low at $166.10 to a day high of $168.88. The price has fallen in 6 of the last 10 days and is down by -4.47% for this period. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 61 million shares were bought and sold for approximately $10.19 billion.
Rosenblatt is very positive about AAPL and gave it a "" rating on Apr 19, 2022. The price target was set to 167.36+1.36.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.
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 $153.82 and $182.11 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.
A sell signal was issued from a pivot top point on Tuesday, March 29, 2022, and so far it has fallen -6.55%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $166.97 and $167.13. A breakdown below any of these levels will issue sell signals.
Apple finds support from accumulated volume at $162.74 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 $2.78 (1.67%) between high and low. For the last week, the stock has had a daily average volatility of 2.45%.
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 Hold/Accumulate to a Buy candidate.Check full Apple forecast and analysis here.