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A company insider recently sold 75,000 shares of Apple Inc [AAPL]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Apple Inc shares valued at $14,368,500 were sold by LEVINSON ARTHUR D on May 30 ’24. At $191.58 per share, LEVINSON ARTHUR D sold 75,000 shares. The insider’s holdings dropped to 4,359,576 shares worth approximately $847.85 million following the completion of this transaction.

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Also, KONDO CHRIS sold 4,999 shares, netting a total of over 951,785 in proceeds. Following the sale of shares at $190.40 each, the insider now holds 29,278 shares.

Before that, WILLIAMS JEFFREY E had sold 59,162 shares from its account. In a trade valued at $10,188,880, the COO traded Apple Inc shares for $172.22 each. Upon closing the transaction, the insider’s holdings decreased to 59,162 shares, worth approximately $95.28 million.

As published in a research note from Itau BBA on May 03, 2024, Apple Inc [AAPL] has been rated up from an Underperform to a Market perform and the price target has been revised to $188 from $162. Analysts at Monness Crespi & Hardt resumed the stock at ‘”a Buy”‘ outlook in a report released in early May. As of April 29, 2024, Bernstein has increased its “Mkt perform” rating to a “an Outperform” for AAPL. Earlier on April 17, 2024, Maxim Group initiated its rating. Their recommendation was “a Hold” for AAPL stock.

Analyzing AAPL Stock Performance

During the last five days, there has been a surge of approximately 1.67%. Over the course of the year, Apple Inc shares have jumped approximately 1.01%. Shares of the company reached a 52-week high of $196.90 on 06/05/24 and a 52-week low of $164.07 on 04/19/24. A 50-day SMA is recorded $179.06, while a 200-day SMA reached $181.63. Nevertheless, trading volume fell to 41.07 million shares from 54.16 million shares the previous day.

Support And Resistance Levels for Apple Inc (AAPL)

According to the 24-hour chart, there is a support level at 193.60, which, if violated, would cause prices to drop to 192.72. In the upper region, resistance lies at 195.93. The next price resistance is at 197.38. RSI (Relative Strength Index) is 67.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.22, which suggests the price will increase in the coming days. Percent R is at 23.55%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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