Stronger technical forecast for Apple stock price after Thursday trading.StockInvest.us, 4 weeks ago
The Apple stock price gained 0.23% on the last trading day (Thursday, 19th Aug 2021), rising from $146.36 to $146.70. During the day the stock fluctuated 2.42% from a day low at $144.50 to a day high of $148.00. The price has been going up and down for this period, and there has been a -0.24% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 86 million shares were bought and sold for approximately $12.60 billion.
On August 19, 2021 "JPMorgan Chase & Co." gave "$175.00 - $180.00" rating for AAPL. The price target was changed from $146.36 to 2.6%.
Given the current short-term trend, the stock is expected to rise 23.29% during the next 3 months and, with a 90% probability hold a price between $180.87 and $188.74 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 $148.32. On a fall, the stock will find some support from the long-term average at approximately $146.02. 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 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 Monday, August 16, 2021, and so far it has fallen -2.92%. Further fall is indicated until a new bottom pivot has been found.
Apple finds support from accumulated volume at $145.86 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 $3.50 between high and low, or 2.42%. For the last week the stock has had a daily average volatility of 2.26%.
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 Hold/Accumulate to a Buy candidate.Check full Apple forecast and analysis here.