Apple stock upgraded to Hold/Accumulate., 1 month ago


The Apple stock price gained 1.66% on the last trading day (Friday, 24th May 2024), rising from $186.88 to $189.98. During the last trading day the stock fluctuated 1.35% from a day low at $188.04 to a day high of $190.58. The price has risen in 8 of the last 10 days and is up by 3.79% over the past 2 weeks. Volume fell on the last day by -15 million shares and in total, 36 million shares were bought and sold for approximately $6.83 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 May 24, 2024, it was reported that Wedbush gave AAPL a "Buy" grade with a "upgrade" action.

The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $192.95 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 6.97% during the next 3 months and, with a 90% probability hold a price between $181.83 and $206.39 at the end of this 3-month period.


The Apple stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $190.12. On a fall, the stock will find some support from the long-term average at approximately $177.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -1.23%. Further fall is indicated until a new bottom pivot has been found.

Apple finds support from accumulated volume at $183.38 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 $2.54 between high and low, or 1.35%. For the last week, the stock has had daily average volatility of 1.50%.

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.