Red day on Thursday for Apple

The Apple stock price fell by -1.22% on the last day (Thursday, 3rd Jun 2021) from $125.06 to $123.54. During the day the stock fluctuated 1.40% from a day low at $123.13 to a day high of $124.85. The price has fallen in 7 of the last 10 days and is down by -0.92% for this period. Volume has increased on the last day by 16 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 75 million shares were bought and sold for approximately $9.31 billion.

The last rating was given by New Street Research on May 28, 2021. The price target was set to $90.00.Over the last 30 days, this security got 10 buy, 1 sell, and 6 hold ratings.

The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $124.26. A reaction back to this level may hold a second chance to get out before further falls.

A buy signal was issued from a pivot bottom point on Wednesday, May 12, 2021, and so far it has risen 0.63%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $125.22 and $128.93. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Apple finds support from accumulated volume at $121.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.72 between high and low, or 1.40%. For the last week the stock has had a daily average volatility of 1.31%.

The Apple stock holds several negative signals and despite the positive trend, we believe Apple will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.