Chart of the Day: Can Apple Get It Together?
The stock has come under heavy pressure of late but maybe this is where it makes a stand.
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We're seeing a frustrating development as weakness in Apple (AAPL) has had negative effects on most big-cap tech stocks so far in 2026. To be fair, Apple is not the only one to blame; in fact, Nvidia (NVDA) and some other big software names such as Oracle (ORCL) and Salesforce (CRM) are also in severe downtrends.
Apple's chart is clearly bearish. Momentum is swinging down, and the MACD (moving average convergence divergence) has been on a sell signal for weeks. Money flow is bearish and the candles are purple, which is bearish on the GoNoGo composite of indicators.
We also have the price breaking the lower Bollinger band, so a bounce may be sold. Where is support? Clearly at the 200-day moving average just below, but maybe with earnings out soon Apple could skirt that support level and shock everyone.
Given all the hoopla surrounding AI and a shift from software, Apple certainly enjoys a nice advantage in other spaces like communications and services. We'll see if that comes to light when they report Q4 earnings.
We like Apple and rate it a Two, or "stockpile on pullbacks."
At the time of publication, TheStreet Pro Portfolio was long AAPL and NVDA.
