Stronger technical forecast for Apple stock price after Monday trading.StockInvest.us, 2 weeks ago
The Apple stock price gained 3.85% on the last trading day (Monday, 12th Sep 2022), rising from $157.37 to $163.43. It has now gained 3 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 3.11% from a day low at $159.30 to a day high of $164.26. The price has fallen in 6 of the last 10 days and is down by -0.12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 million more shares were traded than the day before. In total, 105 million shares were bought and sold for approximately $17.13 billion.
Keybanc is very positive about AAPL and gave it a "$177.00 - $185.00" rating on Aug 19, 2022. The price target was changed from 177 to 185.Over the last 90 days, this security got 6 buy, 8 sell, and 0 hold ratings.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 23.48% during the next 3 months and, with a 90% probability hold a price between $192.12 and $227.39 at the end of this 3-month period.
The Apple stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $157.07 and $163.40. A breakdown below any of these levels will issue sell signals. 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 Wednesday, August 17, 2022, and so far it has fallen -6.37%. 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).
On the downside, the stock finds support just below today's level from accumulated volume at $141.66 and $131.88.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Apple finds support just below today's level at $141.66. If this is broken, then the next support from accumulated volume will be at $131.88 and $131.56.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.96 between high and low, or 3.11%. For the last week, the stock has had daily average volatility of 2.34%.
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.