Red day on Wednesday for Apple

No changes to the price of Apple stock on the last trading day (Wednesday, 15th Jun 2022). During the day the stock fluctuated 0% from a day low at $132.76 to a day high of $132.76. The price has fallen in 5 of the last 10 days and is down by -10.73% for this period.

The last rating was given by Morgan Stanley on Jun 15, 2022. The price target was set to 135.43+2.01.Over the last 90 days, this security got 2 buy, 8 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 -20.98% during the next 3 months and, with a 90% probability hold a price between $99.67 and $116.90 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

There are mixed signals in the stock today. 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 $159.31 and $161.81. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, June 13, 2022, and so far it has risen 0.67%. 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).

Apple finds support from accumulated volume at $131.88 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 2.24%

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.