Apple (AAPL) tags five-year parallel channel high, top likely in

Gareth Soloway Verified Investing

Shares of Apple Inc. (AAPL) have rallied even as the broader markets have stumbled. We are seeing clear rotation into the iPhone maker as a defensive play, aided by traction in the latest upgrade cycle. AAPL now sits at a staggering $4.18 trillion market cap.

But whatever reasons the mainstream media gives for the rally, a technical trader purely looks at the charts. And the charts are saying this run is over. In fact, Apple is likely marking a major cycle high right here.

The key feature is a massive parallel channel stretching back to the March 2020 Covid lows. The lower trendline connects perfectly through Covid lows in March 2020, the bear market low in 2022 and the "Liberation Day" tariff collapse in April 2025. The upper parallel trendline aligns precisely with the 2021 bull market high and the December 2024 highs.

The recent surge in AAPL has now tagged this upper trendline again.

Note that a parallel channel is far more significant than a single trendline. The existence of the second, parallel line (the lower boundary) confirms the pattern's validity and increases its predictive power. Hitting the top of this channel signals a high-probability rejection.

Look for a pullback in the near term. Furthermore, 2026 could see a decline all the way back to the lower end of the parallel channel, currently sitting at $210. Apple is a strong short off this $283 resistance level.

Author

Gareth Soloway

Verified Investing

A renowned trader and financial expert specializing in chart analysis and market insights.

EUR/USD consolidates above 1.1800 as trades await Eurozone CPI and US data

The EUR/USD pair struggles to capitalize on the previous day's modest bounce from the 1.1780-1.1775 area, or over a one-week low, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices currently trade around the 1.1815 zone, nearly unchanged for the day, as traders keenly await the release of the flash Eurozone consumer inflation figures.

GBP/USD consolidates ahead of Bank of England rate decision

The Pound Sterling traded in a narrow range against the US Dollar on Tuesday, edging modestly higher to near 1.3700 as markets adopted a cautious stance ahead of the Bank of England's first policy decision of 2026. GBP/USD opened the session at 1.3665 and touched an intraday high near 1.3707, with the pair consolidating below the multi-year high of 1.3869 posted in late January.

Gold extends recovery toward $5,050 as US-Iran tensions boost haven demand

Gold price builds on the previous recovery toward $5,050 in the Asian session on Wednesday. The precious metal extends the rebound after a historic and volatile sell-off last week. Traders weigh the next round of US economic signals amid a resurgent demand for safe-haven assets and renewed US-Iran geopolitical tensions.

Why is the crypto market crashing?

Bitcoin and the broader crypto market are experiencing a heavy downturn on Tuesday amid negative sentiment following the latest tech earnings. The top crypto briefly declined more than 5% over the past 24 hours, sliding below $73,500 before quickly recovering above $75,000 at the time of publication. Over the past two weeks, Bitcoin has lost more than 23%, eroding about $401 billion in market capitalization.

Gold and silver recovery continues, but equities sink as tech is shunned

The risk recovery is on pause as we move through Tuesday. After signs that a recovery in precious metals could boost overall risk appetite earlier today, a nasty sell off in tech stocks has pushed the Nasdaq and the S&P 500 down by 1.7% and 1.1% respectively.

Ripple slides as low retail, institutional demand weigh

Ripple edges lower, trading marginally below $1.60 at the time of writing on Tuesday as bulls and bears battle for control. The cross-border remittance token rose to $1.66 on Monday, but profit-taking and risk-off sentiment in the broader crypto market led to the ongoing correction.