Stronger technical forecast for Apple stock price after Tuesday trading.StockInvest.us, 1 month ago
The Apple stock price gained 1.12% on the last trading day (Tuesday, 12th Apr 2022), rising from $165.78 to $167.64. During the day the stock fluctuated 1.94% from a day low at $166.64 to a day high of $169.87. The price has fallen in 7 of the last 10 days and is down by -6.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 million more shares were traded than the day before. In total, 73 million shares were bought and sold for approximately $12.22 billion.
Barclays is very positive about AAPL and gave it a "$169.00 - $170.00" rating on Mar 11, 2022. The price target was changed from 154.73 to 2.39.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Apple stock with a 90% probability to be traded between $152.98 and $181.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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 $171.58. On a fall, the stock will find some support from the long-term average at approximately $166.58. 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 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 Tuesday, March 29, 2022, and so far it has fallen -6.33%. 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).
Apple finds support from accumulated volume at $166.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $3.23 between high and low, or 1.94%. For the last week, the stock has had a daily average volatility of 1.94%.
Apple holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full Apple forecast and analysis here.