StockCharts TV on $AAPL (Nov 3, 2026)

This is happening just before Apple's earnings report is released after the market closes.

One is Microsoft, the second is Apple, the third is Tesla. And without further ado, the first two charts I'm going to show you are Apple and Tesla. I have divided these 10 charts into five pairs.

The first two are major growth names, at least I think they still show quite a constructive technical setup.

This entire game could change in the next 12 to 24 hours, with Apple's earnings report due after the market closes today. And we can see that share sales have increased in today's session.

It was down about 2% at noon Eastern Time before today's report. But this is one of the few Mag Seven companies that reached new highs in October, and I think it should be acknowledged.

Where does this take us ahead of Apple's earnings report? So it's safe for now , right? We have maintained the upward 50- day moving average. Our upward 200-day moving average is just above $300 per share.

According to my analysis, I would say it's innocent until proven guilty , right? I think it has been on an upward trend for quite some time. Again , this is one of the handful of Mag Seven names that reached new highs in October, and I think that's important.

It is one of the few names in the Mag Seven that has not yet broken its 50- and 200- day moving averages and is trending upwards. It meets all the conditions.

If we are disappointed by the earnings report after today's close , I personally would see 300 as the next reasonable downside target. That would be the 200-day moving average.

In addition, the swing lows of late July or mid-August are also included. You can see right around 300. So, I think if we break the 50-day moving average , if we break the support level near 330 and go down, then 300 would probably be my next downside target.

That would be another 8 to 10 percent decline than what we've seen so far. But I would say overall, the chart is still pretty good.

I mean, from a technical perspective, I would say there's another thing worth mentioning that concerns me about this chart. This is why I think it is extremely important to monitor it.

Look at the new all-time high for May, with the RSI at around 80, indicating overbought. Look at the next new all-time high in mid-July , where the RSI peaked at around 72. At the next all-time high in late July, the RSI was around 68.

Look at the next retest of that all-time high in late September , RSI around 70, we could call it 76 or 77. Where am I looking? Sorry, I'll say 65 right there. Now, about a week ago we reached a new all-time high, where the RSI was around 63.

So, it seems that every time Apple has reached a new all-time high since May, the RSI has weakened. It looks like a major divergence as the stock reaches new highs. So, it definitely seems like the momentum is waning, but as a trend follower, I would say the trend is still positive.

I think this is an important chart to watch because as long as it is in a positive trend, it is important to remember that. But also from a market analysis perspective , right?

I mean, if Apple, which has been the strongest on these charts, ca n't get through its earnings report with some optimism, I don't think it's hard to imagine anything other than a further decline from the AI names in November, which would make 2026 look a lot like 2014 or 2018.

So, Apple's chart is number one, I think it's a good chart until something else is proven. Today's earnings report is going to be very important.