Evaluation of Apple stock downgraded after the last trading session.

The Apple stock price gained 0.478% on the last trading day (Friday, 2nd Jun 2023), rising from $180.09 to $180.95. During the last trading day the stock fluctuated 1.41% from a day low at $179.26 to a day high of $181.78. The price has risen in 7 of the last 10 days and is up by 3.37% over the past 2 weeks. Volume fell on the last day by -8 million shares and in total, 58 million shares were bought and sold for approximately $10.42 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.

D.A. Davidson is very positive about AAPL and gave it a "" rating on Feb 03, 2023. The price target was set to 173.

The stock lies in the middle of a narrow and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 16.79% during the next 3 months and, with a 90% probability hold a price between $204.61 and $214.64 at the end of this 3-month period.

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 $176.55 and $171.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 12, 2023, and so far it has risen 13.02%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Apple finds support from accumulated volume at $177.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.52 between high and low, or 1.41%. For the last week the stock has had daily average volatility of 1.52%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.