Apple, Inc. Technical Stock Analysis
Industry: Electronic Equipment Sector: Consumer GoodsExchange: NASDAQ
Apple Inc. fell by -0.23% in the last day from $191.88 to $191.44 The price has been going up and down for this period, and there has been a 1.85% gain for the last 2 weeks. Volume has increased in the last day by 0.42 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 20.68 million shares bought and sold for approximately $3 958.21 million.
Trend
Apple Inc. 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 8.96% during the next 3 months and, with 90% probability hold a price between $193.91 and $221.47 at the end of this period.
Trend
Apple Inc. 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 8.96% during the next 3 months and, with 90% probability hold a price between $193.91 and $221.47 at the end of this period.
Signals
Apple Inc. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $191.21 and $188.94.
A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday July 19, 2018, 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.
Relative Strength Index (RSI)
RSI14 is 64 and the stock is currently not being overbought or oversold.
Support & Resistance
Apple Inc. finds support from accumulated volume at $188.84.
Risk
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 $2.26 (1.19%) between high and low. For the last week, the stock has had a daily average volatility of 1.25%.
The ecommended stoploss: $185.66 (-3.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
Overall risk: Low
Evaluation
Several short-term signals, along with a general good trend, are positive and I conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. Due to some small weaknesses in the technical picture I have downgraded my recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate. Apple is a stock that will be around for a long time. Everyone knows that so If you don’t own stock in Apple just buy some.