Stronger technical forecast for Apple stock price after Monday trading.StockInvest.us, 4 months ago
The Apple stock price gained 0.39% on the last trading day (Monday, 13th Sep 2021), rising from $148.97 to $149.55. During the day the stock fluctuated 1.79% from a day low at $148.75 to a day high of $151.42. The price has risen in 6 of the last 10 days and is up by 0.64% over the past 2 weeks. Volume fell on the last day by -42 million shares and in total, 98 million shares were bought and sold for approximately $14.62 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On September 10, 2021 "JPMorgan Chase & Co." gave "$180.00" rating for AAPL. The price target was changed from $148.85 to 3.4%.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $149.30 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 15.18% during the next 3 months and, with a 90% probability hold a price between $171.96 and $182.00 at the end of this 3-month period.
The Apple stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $153.19. On a fall, the stock will find some support from the long-term average at approximately $149.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Tuesday, September 07, 2021, and so far it has fallen -4.56%. Further fall is indicated until a new bottom pivot has been found.
Apple finds support from accumulated volume at $149.15 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 $2.67 (1.79%) between high and low. For the last week, the stock has had a daily average volatility of 2.32%.
Several short-term signals, along with a general good trend, 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.Check full Apple forecast and analysis here.