Apple stock technical analysis: Bearish move is still in play

Hey traders, it's time for another round of Apple stock technical analysis. As one of the world's most valuable companies, understanding Apple's (AAPL) stock trajectory is super important for investors. Let's look at the chart I've included and break down some key signals.

Chart analysis of AAPL on the weekly chart: Awaiting a retest (see point 6 on the chart... and watch the area rather than a specific point)

Apple technical analysis map on the weekly: See point 6
Apple technical analysis map on the weekly: See point 6

  • Let's start with a historic uptrend for Apple stock: The chart showcases a major low in Apple stock at the end of 2018, marking the start of a powerful 5-year uptrend. This uptrend line has been a significant support level for a long time.

  • Bull flag formation and breakdown: In early 2023, we saw a double support test with both the uptrend line (support level 1) and the bottom band of a blue bull flag. This bull flag pattern usually implies a potential upward breakout and continuation of the uptrend. However, Apple stock surprised us with a bearish twist.

  • Bearish breakout: The second half of 2023 showed a breakdown of the bull flag, not to the upside as expected, but through the bottom trendline – a strong bearish signal.

  • Failed retest downtrends: Early 2024 brought a brief bull flag retest, where the price attempted to break back above the trendline. This failure confirms the bearish breakdown,

  • Broken uptrend = Bearish trend: Most importantly, Apple stock has now broken below the major uptrend line that's been in place since late 2018. This is a major bearish development hinting at a long-term negative trend for Apple's stock.

Apple Stock Technical Analysis: Where Next?

AAPL technical analysis: Watching this next for Apple stock
AAPL technical analysis: Watching this next for Apple stock
  • Retest Anticipated: The technical analysis points to further potential price decline. We might see a retest of the previous bull flag area around $155 per share on this downward trajectory.

Apple Stock Technical Analysis Updates

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