To The Moon

The Apple $Apple(AAPL)$ stock price gained 0.282% on Friday, 18th Aug 2023, rising from $174.00 to $174.49. During the last trading day the stock fluctuated 1.83% from a day low at $171.96 to a day high of $175.10. The price has fallen in 7 of the last 10 days and is down by -4.12% for this period. Volume fell on the last day by -5 million shares and in total, 56 million shares were bought and sold for approximately $9.79 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 lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $174.13 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.13% during the next 3 months and, with a 90% probability hold a price between $181.31 and $206.40 at the end of this 3-month period.

AAPL Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, August 17, 2023, and so far it has risen 0.282%. Further rise is indicated until a new top pivot has been found. 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 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 $176.82 and $187.95. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Apple stock

Apple finds support from accumulated volume at $174.00 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 $3.14 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 1.60%.

Apple is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $163.72 (-6.17%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 11 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (AAPL) For The Trading Day Of Monday 21st

For the trading day on Monday, 21st we expect Apple Inc. to open at $173.85, and during the day (based on 14 day Average True Range), to move between $171.33 and $177.65, which gives a possible trading interval of +/-$3.16 (+/-1.81%) up or down from last closing price. If Apple Inc. takes out the full calculated possible swing range there will be an estimated 3.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $174.00 (0.28%) than the resistance at $177.25 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Insiders are negative selling more shares than they are buying in Apple

In the last 100 trades there were 1.48 million shares bought and 2.88 million shares sold. The last trade was made 16 days ago by O'brien Deirdre who bough 31.9 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.

Is Apple Inc. stock A Buy?

Apple holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.