Weaker technical forecast for Apple as stock downgraded to Sell Candidate.StockInvest.us, 3 months ago
The Apple stock price fell by -2.36% on the last day (Thursday, 10th Feb 2022) from $176.28 to $172.12. During the day the stock fluctuated 2.29% from a day low at $171.55 to a day high of $175.48. The price has been going up and down for this period, and there has been a 8.1% gain for the last 2 weeks. Volume has increased on the last day by 22 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 88 million shares were bought and sold for approximately $15.22 billion.
On Jan 31, 2022 "The Goldman Sachs Group" gave "$161.00" rating for AAPL. The price target was set to $174.78+2.6%.
The stock lies in the middle of a wide and weak 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 8.15% during the next 3 months and, with a 90% probability hold a price between $174.67 and $203.53 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 8.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $173.72 and $172.42. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Apple finds support from accumulated volume at $171.14 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 $3.93 between high and low, or 2.29%. For the last week, the stock has had a daily average volatility of 1.87%.
The Apple stock holds several negative signals and despite the positive trend, we believe Apple will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Sell candidate.Check full Apple forecast and analysis here.