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Green day on Tuesday for Apple

StockInvest.us, 1 month ago

Apple

The Apple stock price gained 0.46% on the last trading day (Tuesday, 26th Oct 2021), rising from $148.64 to $149.32. During the day the stock fluctuated 1.23% from a day low at $149.01 to a day high of $150.84. The price has risen in 7 of the last 10 days and is up by 5.52% 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, 10 million more shares were traded than the day before. In total, 61 million shares were bought and sold for approximately $9.05 billion.

On Oct 20, 2021 "The Goldman Sachs Group" gave "$140.00" rating for AAPL. The price target was set to $149.34+0.4%.

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 -2.11% during the next 3 months and, with a 90% probability hold a price between $135.39 and $151.60 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 $148.67 and $145.80. A breakdown below any of these levels will issue sell signals. 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. 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 Thursday, October 21, 2021, and so far it has fallen -0.11%. Further fall is indicated until a new bottom pivot has been found.

Apple finds support from accumulated volume at $148.97 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 $1.83 (1.23%) between high and low. For the last week, the stock has had a daily average volatility of 1.15%.

Apple holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Check full Apple forecast and analysis here.