What Apple's Chart Says Heading Into EarningsApple Inc.BATS:AAPLmoomooI recently wrote about Microsoft MSFT falling so far in 2026, but fellow "Magnificent Seven" stock Apple AAPL hasn't done much better -- down about 0.5% over six months. Let's look at the hardware giant's technical and fundamental analysis as Apple prepares to report fiscal Q2 results later this week. Apple's Fundamental Analysis Apple traded as low as $245.51 as recently as March 30 -- off 9.7% for the year -- but has recouped much of that in recent weeks. The stock closed Tuesday at $270.71, just 6.2% below its $288.62 all-time high set in December. However, the stock might be under increased scrutiny this earnings season, as Apple recently announced that CEO Tim Cook will step down from that role in September after some 15 years and become the firm's executive chair. John Ternus, an Apple lifer who's been running the hardware-engineering team, will become the company's new CEO. For the firm's fiscal Q2, the Street is looking for $1.95 in earnings per share on $109.7 billion of revenue. That would represent an 18.2% gain from the $1.65 in EPS that Apple posted in the year-ago period, while also reflecting almost 15% in year-over-year revenue growth. Such numbers would also mark Apple's second straight quarter of double-digit percentage gains for its revenues following a 15-quarter sales-growth slump. All told, 26 of the 32 sell-side analysts that I know of who track AAPL have revised their earnings estimates higher since the quarter began, while just one analyst cut their numbers. (Five made no changes.) Apple's Technical Analysis Now let's look at AAPL's chart going back some eight months and running through Thursday afternoon (April 23): Readers will first see that Apple developed a head-and-shoulders pattern of bearish reversal over 2025's final three months. The stock promptly fell in early 2026, just as that pattern (marked in purple at the chart's center) had forecast. Shares then waffled into early March until a falling-wedge pattern of bullish reversal evolved, as denoted by tan shading at the chart's right. This forced a technical rally that's now starting to look like a cup pattern with a $276 apparent pivot. Marked with a black curving line at the chart's right, this is bullish in nature. However, bear in mind that this cup pattern could still develop a handle. That would still be a bullish set-up, but would mean that Apple could see sell-off ahead of any pop that moved past the apparent pivot point. The stock has already retaken its 21-day Exponential Moving Average, or "EMA," denoted by a green line above. Apple has also reclaimed its 50-day Simple Moving Average (or "SMA," marked with a blue line). Retaking those lines generally compels both swing traders and portfolio managers to increase their long-side exposure. Notice as well that the green line has also crossed above that blue line. This is referred to as a "swing trader's golden cross," and is often a bullish signal. However, the blue line wasn't rising at the time of the crossover, so the signal is less clear. Moving on to the other technical indicators noted above, Apple's Relative Strength Index (the gray line at the chart's top) is healthy and nowhere near entering technically overbought territory. Meanwhile, the stock's daily Moving Average Convergence Divergence indicator (or "MACD," marked with blue bars, a black line and a gold one at the chart's bottom) is looking very bullish. The histogram of the 9-day EMA (the blue bars), the 12-day EMA (the black line) and the 26-day EMA (the gold line) are all running above the zero-bound. Additionally, the black line is running significantly above the gold line. That all adds up to a short- to medium-term bullish signal. (Moomoo Technologies Inc. Markets Commentator Stephen "Sarge" Guilfoyle had no position in AAPL at the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. 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