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On 27 December, while analysing Apple (AAPL) stock, we noted: "Traders should consider the possibility of a pullback below the key psychological level of $250, with the price potentially retreating to the lower purple boundary."
A month later, Bloomberg reports:
→ By the close of trading on Friday, 24 January, the company's shares had fallen 11% since the start of 2025, marking the worst performance among the "Big Seven" companies.
→ This represents the worst start for AAPL shares since 2008, when the global financial crisis was in full swing.
→ Apple has also significantly underperformed the S&P 500, which has risen approximately 3.7% this year and hit a new record high earlier this week.
Can the bulls reverse this disappointing trend?
Technical Analysis of the AAPL chart shows:
→ The price remains within a broad ascending channel (which began in June when the company unveiled its Apple Intelligence tools), but it has now fallen into the lower half of the channel.
→ After briefly dipping below the November low at $219.50, the price recovered – a bullish sign of a Liquidity Grab, suggesting that Smart Money may be turning bullish.
Given this, it is reasonable to expect the downward trend to weaken, with market participants likely adopting a wait-and-see approach ahead of the company’s quarterly earnings report, scheduled for 30 January.
Wall Street analysts are optimistic, forecasting earnings of $2.35 per share and gross revenue of $124.2 billion (compared to $0.97 per share and $94.93 billion in the previous quarter).
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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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