AAPL Stock Price and Forecast: With Apple stuck, is it time to buy?
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- Apple recovers but stalls at the 9-day moving average.
- AAPL stock is now in a high volume resistance area.
- IPhone maker still trying to break back above $152.
Apple recovered further ground on Thursday, but the move ran out of steam at the key short-term, 9-day moving average. This or the 8 or 10-day moving average (whichever is your preference) are closely watched by short-term swing traders as it gives an easy guide to sentiment. In strong moves it can guide prices higher or lower as seen from Apple between June and July. Buying dips to the 9-day moving average would have kept you on that strong surge from $125 to $150.
Apple 15-minute chart
The move on Wednesday had closed toward the high of the daily range, which is usually taken as a positive. Thursday duly saw a continuation with a gap open that Apple filled before rallying back up and stabilizing around $146. Apple stock closed at $146.83 for a gain of 0.67%. We do mention this a lot, but it is amazing how many times markets look to fill a gap.
Apple key statistics
| Market Cap | $2.4 trillion |
| Enterprise Value | $2.3 trillion |
| Price/Earnings (P/E) | 29 |
|
Price/Book |
38 |
| Price/Sales | 9 |
| Gross Margin | 41% |
| Net Margin | 25% |
| EBITDA | $112 billion |
| 52 week low | $103.10 |
| 52 week high | $157.26 |
| Average Wall Street rating and price target |
Buy $166.7 |
Apple stock forecast
Now that Apple has arrested the decline and retraced to the 9-day moving average, the next stage of the recovery needs to begin. This is why we remain neutral on the stock for now. Apple is in an area of high volume, making gains harder to achieve. Only above $152 do we turn bullish as this takes out last week's high of $151.42 and will make the weekly candle an outside candle, assuming we do this next week and not this week. Technically, the short-term chart turned bearish on September 10 with a sharp fall below the 9 and 21-day moving averages, which set a lower high, always a classic bearish trend. This was not followed up with a lower low until $144.50 was broken on Monday. This created the channel highlighted. Apple is now at the point of breaking out of this, but only breaking last week's high at $151.42 will turn us bullish.
FXStreet View: Neutral, bearish below $144.50, bullish above $152.
- Apple recovers but stalls at the 9-day moving average.
- AAPL stock is now in a high volume resistance area.
- IPhone maker still trying to break back above $152.
Apple recovered further ground on Thursday, but the move ran out of steam at the key short-term, 9-day moving average. This or the 8 or 10-day moving average (whichever is your preference) are closely watched by short-term swing traders as it gives an easy guide to sentiment. In strong moves it can guide prices higher or lower as seen from Apple between June and July. Buying dips to the 9-day moving average would have kept you on that strong surge from $125 to $150.
Apple 15-minute chart
The move on Wednesday had closed toward the high of the daily range, which is usually taken as a positive. Thursday duly saw a continuation with a gap open that Apple filled before rallying back up and stabilizing around $146. Apple stock closed at $146.83 for a gain of 0.67%. We do mention this a lot, but it is amazing how many times markets look to fill a gap.
Apple key statistics
| Market Cap | $2.4 trillion |
| Enterprise Value | $2.3 trillion |
| Price/Earnings (P/E) | 29 |
|
Price/Book |
38 |
| Price/Sales | 9 |
| Gross Margin | 41% |
| Net Margin | 25% |
| EBITDA | $112 billion |
| 52 week low | $103.10 |
| 52 week high | $157.26 |
| Average Wall Street rating and price target |
Buy $166.7 |
Apple stock forecast
Now that Apple has arrested the decline and retraced to the 9-day moving average, the next stage of the recovery needs to begin. This is why we remain neutral on the stock for now. Apple is in an area of high volume, making gains harder to achieve. Only above $152 do we turn bullish as this takes out last week's high of $151.42 and will make the weekly candle an outside candle, assuming we do this next week and not this week. Technically, the short-term chart turned bearish on September 10 with a sharp fall below the 9 and 21-day moving averages, which set a lower high, always a classic bearish trend. This was not followed up with a lower low until $144.50 was broken on Monday. This created the channel highlighted. Apple is now at the point of breaking out of this, but only breaking last week's high at $151.42 will turn us bullish.
FXStreet View: Neutral, bearish below $144.50, bullish above $152.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.