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Deep learning algorithm sets Apple stock price for December 31, 2022

Deep learning algorithm sets Apple stock price for December 31, 2022

Apple’s (NASDAQ: AAPL) stock price started in 2022 at $182, and as of December 12, the stock was trading at $142.16 before the market opened, with the price decreasing by -20% from the beginning of the year. 

As one of the most widely traded equities on the market, investors are curious to see where Apple will finish the year.  In particular, Coin Price Forecast, which employs data science and machine self-learning technology for stocks and cryptocurrencies, has projected that the price of Apple will be $148 by the end of 2022, representing a decrease of 17% from one year to the next. However, the increase from now through the end of the year will be +4%. 

Machine self-learning technology predicts Apple’s end-of-2022 price. Source: Coin Price Forecast

Meanwhile, the price of Apple is predicted to increase to $155 in the first half of 2023 and then add $21 to its price, bringing it to $176 by the end of the year, a +24% increase in comparison to its current price.

APPL chart and analysis

In the last month, AAPL has been trading in the $140.00 – $153.59 range; it is currently trading near the lows of this range. However, Apple does show a decent setup pattern as reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at $136.72; a stop-loss order could be placed below this zone.

On the other hand, a resistance zone ranging from $144.48 to $147.85 is formed by a combination of multiple trend lines and important moving averages in various time frames. Notably, Apple is trading below its 20-day (-3.21%) and 50-day (-9.67%) simple moving average, although it is above its 100-day SMA by 3.67%.

Apple year-to-date chart. Source: Finbold

Apple technical analysis

The short-term technical analysis (TA) for AAPL on the 1-week gauges is relatively bearish. In particular, the summary gauge points to a ‘sell’ sentiment at thirteen while moving averages (MA) suggest a ‘strong sell’ at 12.

Apple technical analysis. Source: TradingView

Elsewhere, the oscillators point to ‘neutral’ at nine, according to the data obtained from the market analytics platform TradingView on December 12.

Despite the negative short-term technical analysis, on Wall Street, twenty-seven analysts have given a ‘strong buy’ consensus rating for the stock. Notably, twenty-three experts advocate to ‘buy,’ and four recommend ‘hold.’ Interestingly none of the TipRanks analysts support selling AAPL.

AAPL stock price prediction over the next 12 months. Source: TipRanks

Based on analyst stock evaluations for Apple over the last three months, the average price forecast for the next year is $180.10. Compared to the current price of $142.16, the target indicates a 26.69% upside.

Only time will tell whether the self-learning technology’s prediction models and parameters based on experience can accurately predict the Apple stock price for December 31, 2022.

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