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The Apple stock price gained 0.595% on the last trading day (Friday, 9th Dec 2022), rising from $142.93 to $143.78. It 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 last trading day the stock fluctuated 3.31% from a day low at $140.90 to a day high of $145.57. The price has fallen in 6 of the last 10 days and is down by -2.92% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 51 million shares were bought and sold for approximately $7.38 billion.
The last rating was given by Morgan Stanley on Nov 08, 2022. The price target was changed from 177 to 175.Over the last 90 days, this security got 3 buy, 13 sell, and 0 hold ratings.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -3.81% during the next 3 months and, with a 90% probability hold a price between $127.82 and $147.12 at the end of this 3-month period.
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 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 $144.38 and $146.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 18, 2022, and so far it has fallen -5.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Apple finds support from accumulated volume at $142.48 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 $4.67 (3.31%) between high and low. For the last week, the stock has had daily average volatility of 2.95%.
Apple holds several negative signals and is within a wide and falling trend, so we believe 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.