Stronger technical forecast for Apple stock price after Wednesday trading.

The Apple stock price gained 0.90% on the last trading day (Wednesday, 12th Jul 2023), rising from $188.08 to $189.77. During the last trading day the stock fluctuated 1.71% from a day low at $188.47 to a day high of $191.70. 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 has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 56 million shares were bought and sold for approximately $10.61 billion.

D.A. Davidson is very positive about AAPL. The price target was set to 173 (Feb 03, 2023).

The stock lies in the middle of a 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 17.24% during the next 3 months and, with a 90% probability hold a price between $219.30 and $231.31 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 $190.39. On a fall, the stock will find some support from the long-term average at approximately $183.52. 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 Friday, June 30, 2023, and so far it has fallen -2.17%. 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 $179.58 and $177.25.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 $179.58. If this is broken, then the next support from accumulated volume will be at $177.25 and $173.57.

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 $3.23 between high and low, or 1.71%. For the last week the stock has had daily average volatility of 1.50%.

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.