Apple Stock Forecast NASDAQ:AAPL

Stronger technical forecast for Apple stock price after Friday trading. (Updated on June 11, 2021)

The Apple stock price gained 0.98% on the last trading day (Friday, 11th Jun 2021), rising from $126.11 to $127.35. During the day the stock fluctuated 1.06% from a day low at $126.10 to a day high of $127.44. The price has risen in 6 of the last 10 days and is up by 1.65% over the past 2 weeks. Volume fell on the last day by -18 million shares and in total, 53 million shares were bought and sold for approximately $6.73 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.

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 $125.61 and $138.51 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.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 12, 2021, and so far it has risen 3.73%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apple stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $127.70. On a fall, the stock will find some support from the short-term average at $126.09. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss

Apple finds support from accumulated volume at $126.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $1.34 between high and low, or 1.06%. For the last week the stock has had a daily average volatility of 1.36%.

Our recommended stop-loss: $120.64 (-5.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)

Is Apple Inc. stock A Buy?

Several short-term signals 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 period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy Candidate candidate.

Current score: 1.256

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