Apple (AAPL) shares are in the spotlight Monday following news over the weekend that Warren Buffett's Berkshire Hathaway (BRK.A; BRK.B) has continued trimming itsꦛ stake in the tech giant.

Last week, Apple shares came under pressure after the company provided soft current-quarter revenue guidance, prompting concerns about a slow iPhone 16 upgrade cycle amid the delayed rollout of the company’s highly anticipated Apple Intelligence that it initially announced in June.

The iPhone maker’s stock could also face scrutiny after Berkshire Hathaway reported on Saturday that it had offloaded about 100 million shares, 澳洲幸运5开奖号码历史查询:or around 25% of its holding, in Apple during the third quarter. However, the tech behemoth remains the conglomerate’s largest stock position, with a market value of $69.9 billion as of Sept. 30.

Apple shares were down 0.9% at around $221 in midday tradin𒐪g Monday.

Below, we navigate Apple’s chart using 澳洲幸运5开奖号码历史查询:technical analysis to identify important price le༺vels worth watching out for.

Ascending Triangle Breakdown

Apple shares traded within an 澳洲幸运5开奖号码历史查询:ascending triangle between July and October before breaking down below the pattern’s lower trendline late last m𓂃onth f🐬ollowing the company's quarterly results.

Importantly, the recent move lower has occurred on increasing volume, indicating a rise in selling pressure among market 🍎participants.

Let’s point out three important 澳洲幸运5开奖号码历史查询:support levels on Apple’s chart and also identify key overhead areas to monitor i💫f the stock resumes its longer-term uptrend.

Important Support Levels to Watch

Firstly, it’s worth monitoring how the price responds to the $218 level, a location on the chart that may attract buying interest near the June peak, which al🌸so closely aligns with troughs in Jul🍒y and September.

A decisive 澳洲幸运5开奖号码历史查询:breakdown below this level could see the shares decline to around $198, where they may encounter support near a trendline joining a range of peaks on the chart between July and September last year with the 2024 August 澳洲幸运5开奖号码历史查询:swing low. 

Further selling opens the door for a fall to lower support at the $181 level. Buy-and-hold investors may look for 澳洲幸运5开奖号码历史查询:entry points around this area near a 澳洲幸运5开奖号码历史查询:horizontal line linking a series of comparable trading levels on the chart from June last yea🏅r to May this year.

Key Overhead Areas to Monitor

The first overhead area to monitor sits around the ascending triangle’s upper trendline at $233. A convincing breakout above this level in coming weeks could set up a potential 澳洲幸运5开奖号码历史查询:bear trap that le💫ads to a resumption of the stock’s longer-term move higher𝓡.

To forecast an overhead 澳洲幸运5开奖号码历史查询:price target above the stock’s 澳洲幸运5开奖号码历史查询:all-time high (ATH), we can apply the 澳洲幸运5开奖号码历史查询:measuring principle. We do this by calculating the distance of the ascending triangle near its widest point and adding that amount to the patteꦺrn’s top trendline. In other words, we add $37 to $233, which projects an💞 upside target of $270.

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As of the date this article was written, the author does not own any of the above securities.