14-day Premium Trial Subscription Sign Up For FreeGet Free

Apple stock upgraded to Strong Buy Candidate.

StockInvest.us, 1 month ago

Apple

The Apple stock price gained 3.16% on the last trading day (Tuesday, 30th Nov 2021), rising from $160.24 to $165.30. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 3.50% from a day low at $159.92 to a day high of $165.52. The price has risen in 9 of the last 10 days and is up by 10.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 83 million more shares were traded than the day before. In total, 170 million shares were bought and sold for approximately $28.10 billion.

On Nov 24, 2021 "UBS Group" gave "$175.00" rating for AAPL. The price target was changed from $160.69 to 0.4%.

Given the current short-term trend, the stock is expected to rise 5.59% during the next 3 months and, with a 90% probability hold a price between $152.79 and $174.54 at the end of this 3-month period.

Apple

Mostly positive signals in the chart today. The Apple stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $161.04 and $151.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 04, 2021, and so far it has risen 18.80%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Apple finds support from accumulated volume at $157.87 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 $5.60 between high and low, or 3.50%. For the last week, the stock has had a daily average volatility of 2.18%.

Apple holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Check full Apple forecast and analysis here.