Apple Inc. (NASDAQ:AAPL) stock was little changed in Wednesday’s premarket session, slipping 0.04% to $327.60 as broader technology stocks weakened. Nasdaq futures fell 0.87%, while S&P 500 futures were down 0.32%.
Investors are also watching whether Apple can hold onto its recent gains after a strong rally. The company is scheduled to report fiscal third-quarter earnings after the market closes on July 30.
Technical Picture Remains Bullish
Apple continues to trade in a longer-term uptrend. The stock is 6.3% above its 20-day simple moving average of $308.48 and 19.2% above its 200-day SMA of $274.94. The 20-day SMA also remains above the 50-day SMA of $304.24, signaling that the intermediate trend is still positive.
Momentum indicators also support the bullish outlook. The moving average convergence divergence (MACD) remains above its signal line, suggesting buying momentum is improving despite recent price consolidation.
