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The Apple stock price gained 0.36% on the last trading day (Thursday, 28th Jul 2022), rising from $156.79 to $157.35. , and 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 day the stock fluctuated 2.09% from a day low at $154.41 to a day high of $157.64. The price has risen in 6 of the last 10 days and is up by 5.98% 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, 965 thousand more shares were traded than the day before. In total, 79 million shares were bought and sold for approximately $12.49 billion.
The last rating was given by Morgan Stanley on Jul 20, 2022. The price target was changed from 185 to 180.Over the last 90 days, this security got 0 buy, 10 sell, and 0 hold ratings.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $163.14 will give a strong buy signal and a trend shift could be expected.Given the current horizontal trend, you can expect Apple stock with a 90% probability to be traded between $126.33 and $160.17 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.
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 $154.45 and $143.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 16, 2022, and so far it has risen 20.98%. 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 $146.50 and $142.56.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 $146.50. If this is broken, then the next support from accumulated volume will be at $142.56 and $141.66.
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 $3.23 between high and low, or 2.09%. For the last week, the stock has had a daily average volatility of 2.14%.
Several short-term signals 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 period.
Check full Apple forecast and analysis here.