Trader: The Apple chart is “broken”

Trader: The Apple chart is 'broken'

Apple's new iPhones haven't hit the shelves yet and already Wal-Mart is cutting their prices. Is this the end of Apple's industry leading pricing power?

When Apple released its two newest updated iPhones, the general consensus was… a giant, gaping yawn. Besides that, there were also parody videos speculating that the "s" in "iPhone 5s" stood for "same". Others suggested the "s" as well as the "c" in "iPhone 5c" stood for things not suitable for reposting on a family-oriented blog such as Talking Numbers.

(Read: Why everyone was wrong about Apple)

Now Wal-Mart is slashing away at the new phones' prices. They announced last week they will sell with contracts the iPhone 5s for $189 (a $10 discount) while the 5c will sell at $79 ($20 less). And, some of Apple's older iPhone and iPad products will also get a price cut.

Lower prices may come at a long-term cost for Apple. Its position as a premium brand may get chipped away, taking profit margins with it.

(Read: Apple's iWatch and wait approach)

So, what direction do the charts say is next for Apple?

In honor of Talking Numbers' Chart Week, we have two technical analysts looking at Apple's stock chart with their own take. Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson calls Apple's stock chart "broken" but can't be counted out just yet. Meanwhile, Andrew Busch, publisher of The Busch Update, says investors should stay away from this stock for now.

Whose chart is right? Watch the video above to see the chart war between Ross and Busch and decide which one you think is correct.

More from Talking Numbers:

Suze Orman: Why I like this stock chart

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