Apple Stock Traders Face Neutral Momentum as Price Tests Support

Apple stock is currently trading in a tight range around $309 after pulling back from its 52-week high. Despite this, the daily chart shows that the longer-term uptrend remains intact, with the 200-day EMA sitting at $282.87.

The short-term momentum picture is less convincing, however, with daily RSI14 reading 47.82 and the MACD histogram sitting at -0.15. This indicates fading downside momentum rather than a fresh bearish impulse.

On the hourly chart, price closed at $309.83, wedged between the 20, 50, and 200-period EMAs. The MACD histogram has widened to -0.21, suggesting short-term selling pressure has not yet exhausted itself.