Sign In
The Apple stock price gained 0.281% on the last trading day (Friday, 9th Feb 2024), rising from $188.32 to $188.85. During the last trading day the stock fluctuated 1.06% from a day low at $188.00 to a day high of $189.99. The price has been going up and down for this period, and there has been a -1.86% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 44 million shares were bought and sold for approximately $8.26 billion.
On Feb 02, 2024, it was reported that Goldman Sachs gave AAPL a "Outperform" grade with a "upgrade" action.
The stock is moving within a 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 $177.70 and $193.79 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 buy signal was issued from a pivot bottom point on Wednesday, January 31, 2024, and so far it has risen 2.41%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $188.97. On a fall, the stock will find some support from the short-term average at $188.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Apple finds support from accumulated volume at $188.63 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 $1.99 (1.06%) between high and low. For the last week, the stock has had daily average volatility of 1.34%.
Apple holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Check full Apple forecast and analysis here.