Thu 19'th Oct 2017
Apple Inc. Stock Analysis
Technical stock analysis for Thu 19'th Oct 2017
Sell candidate since 2017-10-18 Loss -2.37%
Given the current horizontal trend you can expect Apple Inc. with 90% probability to be traded between $152.16 and $166.94 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are few to none technical positive signals at the moment. Apple Inc. holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $157.95 and $157.31. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday October 17, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
Apple Inc. finds support from accumulated volume at $155.32. On the upside the stock meets some resistance just above today's level from accumulated volume at $157.14, $159.88 and $160.86.
The stock is about to test the resistance from accumulated volume at $157.14 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $2.06 (1.33%) between high and low. For the last week, the stock has had a daily average volatility of 1.02%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Apple Inc. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
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