Red day on Friday for Apple
(Updated on Sep 30, 2022)

Sell candidate since 2022-09-13 Loss -10.17% PDF

The Apple stock price fell by -3.00% on the last day (Friday, 30th Sep 2022) from $142.48 to $138.20. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.70% from a day low at $138.00 to a day high of $143.10. The price has fallen in 6 of the last 10 days and is down by -8.29% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 124 million shares were bought and sold for approximately $17.20 billion.

Given the current short-term trend, the stock is expected to rise 2.34% during the next 3 months and, with a 90% probability hold a price between $141.43 and $180.67 at the end of this 3-month period.

Signals & Forecast

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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $148.03 and $159.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, August 17, 2022, and so far it has fallen -20.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $5.10 between high and low, or 3.70%. For the last week, the stock has had daily average volatility of 3.59%.

Apple is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Apple Inc. to open at $139.77, and during the day (based on 14 day Average True Range), to move between $133.32 and $143.08, which gives a possible trading interval of +/-$4.88 (+/-3.53%) up or down from last closing price. If Apple Inc. takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $4.28 (3.10%) our system find the risk reward not very attractive.

Is Apple Inc. stock A Buy?

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.

Current score: -2.697

Sell Candidate Unchanged

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