Hey traders, it’s time for another round of technical analysis of Apple stock. As one of the most valuable companies in the world, understanding Apple’s (AAPL) stock trajectory is extremely important for investors. Let’s look at the chart I included and break down some key signals.
Graphical analysis of AAPL on the weekly chart: Waiting for a retest (see point 6 on the chart… and monitor the area rather than a specific point)
Apple technical analysis chart on the weekly: See point 6
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Let’s start with a historic uptrend for Apple stock: The chart shows a major low for Apple stock in late 2018, marking the start of a powerful 5-year uptrend. This uptrend line has long been an important support level.
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Formation and distribution of the bull flag: In early 2023, we saw a double test of support with both the uptrend line (support level 1) and the lower band of a blue bull flag. This bull flag pattern usually implies a potential breakout to the upside and continuation of the uptrend. However, Apple stock surprised us with a bearish turn.
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Bearish growth: The second half of 2023 showed a breakout of the bull flag, not upwards as expected, but across the lower trendline – a strong bearish signal.
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Failed to retest bearish trends: The start of 2024 saw a brief retest of the bull flag, during which price attempted to move back above the trendline. This failure confirms the bearish breakout,
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You are brokenptrend = Downtrend: More importantly, Apple stock has now moved below the main uptrend line that has been in place since late 2018. This is a major bearish move that portends a long-term negative trend for Apple stock.
Apple Stock Technical Analysis: What’s Next?
AAPL technical analysis: what to watch next for Apple shares
- Planned retest: Technical analysis indicates a potential further price decline. We could see a retest of the previous bull flag area around $155 per action on this downward trajectory.
Apple Stock Technical Analysis Updates
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