Apple is set to report earnings of $1.26 a share on revenue of $88.76 billion. RSI is postive as it reads 59 but MACD has turned negative.

Apple is set to report earnings of $1.26 a share on revenue of $88.76 billion. From a technical aspect, its shares are currently trading at $149.83. Towards the upside, there is resistance at $150.62 then at $151.07 (red oval) then a major level at $152.48. A break above the major resistance could see the stock recover some of the September/October downfalls. On the other hand, a weak earnings report could see the share price fall. Hence, towards the downside support sits at $148.49 then at $148.05 then at $147.40. A break below the $147.40 price could see the stock break through the support trendline and develop a bearish trend acquiring more losses in the short-term. Looking at the indicators, RSI is positive as it reads 59 but MACD just turned negative.