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The Apple stock price gained 0.89% on the last trading day (Tuesday, 13th Dec 2022), rising from $143.99 to $145.28. It has now gained 5 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 3.97% from a day low at $144.24 to a day high of $149.97. The price has risen in 6 of the last 10 days and is up by 3.34% 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, 27 million more shares were traded than the day before. In total, 74 million shares were bought and sold for approximately $10.68 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 -2.64% during the next 3 months and, with a 90% probability hold a price between $129.86 and $149.63 at the end of this 3-month period.
There are mixed signals in the stock today. The Apple stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $146.18. On a fall, the stock will find some support from the short-term average at $143.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, November 18, 2022, and so far it has fallen -4.13%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
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 $5.73 (3.97%) between high and low. For the last week, the stock has had daily average volatility of 2.71%.
Apple holds several negative signals and we believe that 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.