Apple Inc. Stock Price Prediction AUG-2023: Is AAPL Bullish?

• The Apple Inc. (NASDAQ: AAPL) stock price is trading at $191.94 as of July 21, 2023, with a market capitalization of $ 3.019 Trillion.
• Apple’s share average volume for the past 24 hours is 71.952 Million and last 10 days average volume is 56.118 Million.

Apple Inc. stock is on a strong uptrend, reaching new highs and keeping its momentum. AAPL has grown impressively over the past 52 weeks, hitting a high of $194.97 from a low of $124.17. This shows a substantial increase, reflecting investor confidence in the company’s performance.

Apple Inc. stock is one of the biggest and most promising companies in the world, with a market capitalization of $3.019 Trillion. The company has a high price-to-earnings ratio of 32.81, delivering robust earnings growth. The company reports a revenue of $394.33 billion and a net income of $99.80 billion in the year 2022, with a profit margin of 25.31%. AAPL has a debt of $132.48 billion and a free cash flow of $11.48 billion in 2022, with cash and equivalents of $21.48 billion.

The Apple Inc. Stock Price Technical Analysis

Source: AAPL/NASDAQ by TradingView

The Bollinger Bands for AAPL’s stock show a current upper band value of 195.84, a middle line value of 190.73, and a lower line value of $185.63. The stock’s price finds support from the middle line.

The price of Apple Inc. stock has moved higher than the 200-day and 50-day moving averages indicating the dominance of buyers in the market. However, if buyers keep driving the market higher, AAPL stock prices can rise more and enter an uptrend. Furthermore, the golden cross validates the positive trend in share.

Right now, MACD is giving bullish signals. The MACD line at 2.85 and the signal line at 3.11 is above the zero line, indicating that the MACD is in positive territory and suggesting that AAPL’s stock may continue to move higher in the short term.

The RSI line is at 59.15, which indicates that the stock is currently in a bullish zone, but not overbought. Moreover, the 14-day Simple Moving Average (SMA) line is at 64.62, above the RSI indicating a negative price direction in the short term.

The Supertrend indicator gives a green signal, validating the bullish sentiment. This means that AAPL’s stock is likely to maintain its upward trend, providing potential opportunities for traders and investors.

Conclusion

The Apple stock price on Etoro is $191.94 and based on the current financial and technical stats we can say that AAPL share is in bullish momentum. We can see that the market is trading above the bullish moving average crossover and the RSI is also supporting by remaining above the 50 levels. Thus, Apple Inc. stock appears bullish based on the technical charts. However,  higher prices can be expected in the forthcoming days. A possible target for the stock is $200, which is near its all-time high.

Technical Levels:

• Support – The current support level is $182.44.

• Resistance –The current resistance level is $200.

Disclaimer

This article is only for information and does not give any financial advice or suggestions about buying, selling, or holding any financial instrument. Please note that financial markets are risky and unpredictable, and past performance does not guarantee future results.