Stronger technical forecast for Apple stock price after Wednesday trading.

The Apple stock price gained 1.50% on the last trading day (Wednesday, 31st Jul 2024), rising from $218.80 to $222.08. It has now gained 4 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 1.44% from a day low at $220.64 to a day high of $223.82. The price has risen in 6 of the last 10 days but is still down by -2.97% for this period. 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, 49 million shares were bought and sold for approximately $10.87 billion.

On Jul 30, 2024, it was reported that Goldman Sachs gave AAPL a "Buy" grade with a "hold" action.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $219.67 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 27.60% during the next 3 months and, with a 90% probability hold a price between $280.30 and $311.80 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 $219.73 and $219.76. 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 Tuesday, July 16, 2024, and so far it has fallen -5.43%. 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 $213.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.18 (1.44%) between high and low. For the last week, the stock has had daily average volatility of 1.91%.

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.