Usman Salis
⬤ Apple Inc. (AAPL) is sitting right on top of a major technical support level with earnings just two weeks out. The stock's been riding an upward trendline since mid-2024, and now it's back testing that same line again. Price is hovering around $260, and traders are watching closely to see what happens next as the earnings date gets closer.
⬤ The chart shows a tight consolidation pattern after AAPL's strong rally. What's interesting is the stock's trading near a high-volume zone that's triggered big moves before. Volume's been dropping during this recent pullback, which usually means the market's just taking a breather rather than flipping bearish.
⬤ AAPL's been on a solid uptrend for months, climbing sharply from its early 2025 lows. This pullback looks like a healthy retracement that's respecting the trendline support. The consolidation could be setting up for another leg higher if support holds, or we might see downside if that trendline cracks.
⬤ This setup matters beyond just AAPL itself. As one of the market's heavyweights, any major move in Apple shares—especially right before earnings—can shift sentiment across the broader market given its massive S&P 500 weighting. The next couple weeks will tell us whether this trend stays intact or if sellers start taking control.
Usman Salis
