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Green day on Thursday for Apple

StockInvest.us, 5 months ago

Apple

The Apple stock price gained 0.96% on the last trading day (Thursday, 22nd Jul 2021), rising from $145.40 to $146.80. During the day the stock fluctuated 1.64% from a day low at $145.81 to a day high of $148.20. The price has been going up and down for this period, and there has been a 2.49% gain 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, 75 million shares were bought and sold for approximately $11.06 billion.

On July 22, 2021 "Canaccord Genuity" gave "$165.00 - $175.00" rating for AAPL. The price target was changed from $145.40to0.5%.Over the last 30 days, this security got 5 buy, 0 sell, and 0 hold ratings.

The stock lies in the middle of a wide 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 13.68% during the next 3 months and, with a 90% probability hold a price between $151.76 and $171.55 at the end of this 3-month period.

Apple

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 $146.40 and $136.48. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, July 14, 2021, and so far it has fallen -1.58%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $133.48 and $127.85.There is 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 $133.48. If this is broken, then the next support from accumulated volume will be at $127.85 and $126.85.

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 $2.38 between high and low, or 1.64%. For the last week, the stock has had a daily average volatility of 1.98%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Apple stock to perform well in the short-term.

Check full Apple forecast and analysis here.