During the uptrend from the beginning of 2024, both 
TSLA and 
AAPL were laggard among big caps as they not only could not advance, but step by step moved down the key MAs: MA50, MA150, MA200.
Even the shorter MA went down lower the longer MA.
There were signs that this can change soon.
At the close of April 29, 2024, bothTSLA and AAPL closed above their own MA-50 for the first time since Jan 8, 2024 for TSLA and Jan 30, 2024 for AAPL
A chart ofAAPL to compare with TSLA is given below.
This is the first sign that these stocks can stop decline further and start to setup some base or patterns to come back.
I am not buying both stocks now but I am closely looking for any base to form soon.
TSLA and AAPL were laggard among big caps as they not only could not advance, but step by step moved down the key MAs: MA50, MA150, MA200.Even the shorter MA went down lower the longer MA.
There were signs that this can change soon.
At the close of April 29, 2024, both
TSLA and AAPL closed above their own MA-50 for the first time since Jan 8, 2024 for TSLA and Jan 30, 2024 for AAPL A chart of
AAPL to compare with TSLA is given below.This is the first sign that these stocks can stop decline further and start to setup some base or patterns to come back.
I am not buying both stocks now but I am closely looking for any base to form soon.
Note
On April 30, AAPL failed the MA-50 the second time (first time was April 12). TSLA is still above its MA-50 so far.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.