1. The Moving Average Crossover
The 20MA ($1,683.63) has crossed below the 50MA ($1,727.02)
While this is a short-to-medium-term bearish crossover, lets wait for a true classical Death Cross when the 50MA crosses below the 200MA.
The 50MA ($1,727.02) is still significantly higher than the 200MA.
The broader macro uptrend remains intact structural-wise, but short-term momentum is firmly in control of the bears.
2. Descending Channel & Price Action
Channel Support: I have drawn the yellow parallel lines which map out the downward channel formed since the peak near $2,300+.
With the current price around $1,268, continuing to ride the lower boundary of this channel could easily push the stock below $1,000.
If $1,000 fails to hold, the next primary structural floor is near the 200MA ($822.57), which would likely serve as a heavy institutional buying line.
Modify on 2026-07-28 08:29
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
