Apple is expected to report earnings of $1.19 on revenue of $81.73bn.

Apple currently trading at around $192.94 a share. Looking at the daily interval, it is clear that the trendline support is still valid and has proven to be robust since the start of the year. However, the price is now approaching the support of $192.58 followed by $191.45, which rests along the trendline. A break below the trendline could suggest that a bigger retracement is taking place as Apple has now hit its all-time high. We would then look at the support of $189.62 followed by the key support of $186.60. On the basis of the forecasts provided by analysts on Wall Street, there is little room for manoeuvre towards the upside for Apple this year. Nevertheless, as proven on many occasions before, analysts are not always right. Apple is expected to show strong earnings and could in fact climb higher, not rocket, but certainly edge higher. On the other hand, poor earnings may have the same effect but towards the downside. As we have established the support levels, resistance levels sit at $194.29 then at $195.64 and then at $196.69. A close above $196.69 could see an attempt of setting yet another all-time high before year's end. Over to the technical indicators, MACD is slightly negative and the RSI has faltered into a neutral stance as it now reads 54.