Stronger technical forecast for Apple stock price after Thursday trading.StockInvest.us, 1 month ago
The Apple stock price gained 1.49% on the last trading day (Thursday, 25th Aug 2022), rising from $167.53 to $170.03. 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 1.06% from a day low at $168.35 to a day high of $170.14. The price has been going up and down for this period, and there has been a 0.91% gain for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 51 million shares were bought and sold for approximately $8.69 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.
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, 10 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 25.53% during the next 3 months and, with a 90% probability hold a price between $198.46 and $223.51 at the end of this 3-month period.
A sell signal was issued from a pivot top point on Wednesday, August 17, 2022, and so far it has fallen -2.59%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 $170.37. On a fall, the stock will find some support from the long-term average at approximately $160.60. 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. 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.
On the downside, the stock finds support just below today's level from accumulated volume at $148.71 and $141.66.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 $148.71. If this is broken, then the next support from accumulated volume will be at $141.66 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 $1.79 between high and low, or 1.06%. For the last week, the stock has had daily average volatility of 1.29%.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.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.