Green day on Friday for Apple stock after gaining 1.37%

The Apple stock price gained 1.37% on the last trading day (Friday, 27th Jan 2023), rising from $143.96 to $145.93. 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 2.90% from a day low at $143.08 to a day high of $147.23. The price has risen in 8 of the last 10 days and is up by 9.38% 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, 17 million more shares were traded than the day before. In total, 70 million shares were bought and sold for approximately $10.27 billion.

The last rating was given by Deutsche Bank on Jan 23, 2023. The price target was changed from 170 to 160.Over the last 90 days, this security got 1 buy, 11 sell, and 0 hold ratings.

The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $139.32, a level that may pose a second chance to hit a runner. According to fan-theory $157.81 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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 $141.22 and $135.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 05, 2023, and so far it has risen 16.73%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $138.38 and $134.51.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Apple finds support just below today's level at $138.38. If this is broken, then the next support from accumulated volume will be at $134.51 and $125.07.

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 $4.15 between high and low, or 2.90%. For the last week, the stock has had daily average volatility of 2.63%.

The Apple stock is extremely overbought on RSI14 (92). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.