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Apple price increased by 2.86% over the past seven days. - 2
Apple Inc. ( NASDAQ: APPL) stock’s 52-week price range is $124 – $198.
While the Tech industry’s earnings increased by 4.4% each year on average, Apple’s earnings grew at a much higher rate of 15.2% annually. SimplyWall St., a financial website that offers stock analysis and insights, reported that Apple’s revenues also rose by an average of 11.1% per year. The company has a return on equity of 151.7% and a net margin of 24.5%.
Apple’s debt-to-equity ratio is 176.3%, which means it has $109.6 Billion in debt and $62.2 Billion in equity. SimplyWall also reported that Apple’s total liabilities are $270.0 Billion and its total assets are $332.2 Billion. The company’s interest coverage ratio is 515.2, based on its EBIT of $112.3 Billion. It also has $55.9 Billion in cash and short-term investments.
The market capitalization of AAPL stock is $3.069 Trillion and the total revenue is $394.33 Billion. Moreover, the stock’s basic EPS is $5.91 and the price-to-earnings ratio is 32.92. Moreover, the average volume is 51.772 Million and the current volume is 80.489 Million, the current volume is above average volume.
Moreover, the stock has done well this month, increasing by 4.48% and it has surged by 44.22% in the last six months. Apple Inc. (NASDAQ: AAPL) stock has a positive year-to-date return of 49.75% and a positive 1-year return of 31.90%.
Technical Analysis of Apple Price in 1-D Timeframe
The price action shows that Apple Inc. (NASDAQ: APPL) stock price completed the formation of a bearish pattern, which is a descending triangle, in the second half of 2022. The triangle broke down at the end of the year and reached a major demand zone at $126.05. In 2023, Apple Price rebounded from this zone and rose 25% within two months, reaching $156.71.
However, this level acted as a resistance and the Apple stock price violated the uptrend, taking a pullback to the $143.93 support level. From this level, APPL price bounced back again in March and rose by 36%, making higher highs and lows. It is currently trading at an all-time high of $195.10.
Moreover, on the daily chart, the Apple stock price is forming a rising wedge, which is a bearish reversal pattern that starts with an uptrend and ends with a downtrend.
Nevertheless, the volume is above the volume moving average and if the Apple price sustains this level, Apple stock could continue to rise and reach the first and second targets of $199.97 and $205.86 respectively. On the other hand, if the APPL stock price faces rejection from this level and falls, it could reach the nearest support levels of $182.93 and $177.29.
At the time of publishing, Apple Inc. (NASDAQ: APPL) is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which are supporting the price trend. Hence, APPL price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 70.12 points. The 14 SMA is above the median line at 66.58 points which indicates that Apple stock is bullish as the RSI is in bullish territory.
The MACD line at 3.16 and signal line at 3.21 are above the zero line and both lines are closing in on each other. A bullish crossover is anticipated next in the MACD oscillator which signals more bullishness for the APPL stock price.
Summary
Apple Inc. (NASDAQ: APPL) shows that the investors and traders of the stock are bullish on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical parameters of the APPL stock price also support the bullish trend. The MACD, RSI, and EMA are giving positive signals and imply that the uptrend may continue in APPL stock price.
Technical Levels
- The nearest support levels: $182.93 and $177.29.
- The nearest resistance levels: $199.97 and $205.86.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/07/20/apple-price-prediction-appl-stock-price-rises-will-it-sustain/