Apple stock upgraded to Hold/Accumulate.StockInvest.us, 6 months ago
The Apple stock price fell by -1.24% on the last day (Thursday, 27th May 2021) from $126.85 to $125.28. and has now fallen 4 days in a row. During the day the stock fluctuated 2.05% from a day low at $125.08 to a day high of $127.64. The price has fallen in 7 of the last 10 days, but is still up by 0.25% over the past 2 weeks. Volume has increased on the last day by 39 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, 94 million shares were bought and sold for approximately $11.71 billion.
Fundamental Research is very positive about AAPL and gave it a "Buy" rating on May 26, 2021. The price target was set to $148.12 → $144.27.Over the last 30 days, this security got 21 buy, 0 sell, and 10 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 $123.51 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 5.96% during the next 3 months and, with a 90% probability hold a price between $130.87 and $146.60 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Wednesday, May 12, 2021, and so far it has risen 2.04%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months 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 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 $126.22 and $129.88. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Apple finds support from accumulated volume at $121.42 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 $2.56 (2.05%) between high and low. For the last week, the stock has had a daily average volatility of 1.64%.
Apple holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Candidate to a Hold/Accumulate candidate.Check full Apple forecast and analysis here.