Chart of the Day: Is Apple a Port in a Storm?
Market volatility is starting to kick up with a huge 40% rise in the VIX on June 5. It was a nasty swing for traders, but especially the Nasdaq 100, which saw prices decline 4% or so on very heavy turnover. We had not seen a day like that since early April 2025.
After a slew of weekly up sessions it does not take long for stocks to get the hammer, but Apple ($AAPL) actually held up fairly well during the hailstorm. The stock did finish lower for the past week but there is hope this stock can help buoy the tech sector and turn the ship around.
The technicals are not bad on Apple but could go either way. Money flow is still positive but backed off a bit, while MACD has rolled over but volume trends are mildly bullish. Stochastics have started to roll over and that means selling pressure could intensify if the markets resume their trek downward.
The 20-day moving average is just a few dollars lower than current prices ($304+) and it is rising swiftly. The 50-day moving average is quite a ways lower, about 7% more if the market takes a bigger swing to the downside. That would be a good spot to add more shares, but I’m not sure you’ll get that precise level.
We like Apple in TheStreet Pro Portfolio and rate it a Two, or “stockpile on pullbacks.”
At the time of publication, TheStreet Pro Portfolio was long AAPL.
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