Apple (AAPL) shares moved higher Wednesday after losing more than a fifth of their value over the previous four sessions amid concerns about the impact of 澳洲幸运5开奖号码历史查询:a trade war between the U.S. and China. 

The recent decline, which saw Apple briefly lose its title as the world’s most valu�🐓�able company, took place as investors braced for the Trump administration’s澳洲幸运5开奖号码历史查询: sweeping tariffs to take effect, notably a 澳洲幸运5开奖号码历史查询:104% levy on imports from China, where 🅺an estimated 90% of the company’s products are assem꧟bled.

Apple 𒁏shares were up more than 3% at around $178 in midday🥀 trading, making it one of the top gainers in the S&P 500.

Below, we take a closer look at Apple’s 澳洲幸运5开奖号码历史查询:weekly chart and use 澳洲幸运5开奖号码历史查询:technical analysis to identify major price l✨evels worth watching out for.

Stock Closes Below 200-Week Moving Average

Selling in Apple shares has accelerated after the price broke down below the neckline of a 澳洲幸运5开奖号码历史查询:head and shoulders pattern last mo𓄧nth. More recently, the stock’s dramatic intraday reversal during Tuesda꧂y’s trading session saw the price close decisively below the closely watched 200-week moving average.

While the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) confirms bearish price momentum, the indicator has slipped into oversold territory, increasing the likelihood of investors seeking short-term 澳洲幸运5开奖号码历史查询:bounce opportunities.

Let’s identify three major 澳洲幸运5开奖号码历史查询:support levels on Apple’s chart that investors may be eyeing and also poi✱nt out a key overhead area worth monitoring.

Major Support Levels Investors May Be Eyeing

The first lower level to watch sits around $166, an area where the shares could attract buying interest near two prominent 澳洲幸运5开奖号码历史查询:swing lows that formed on the ch🌄art in October 2023 and April l༺ast year.

The bulls’ failure to defend this levꦇel could see Apple shares fall to $155. This location may provide support near a trendline 🐼that connects a range of comparable trading activity on the chart between September 2021 and March 2023.

A more significant drop brings lower support at the $138 level into play. Investors could seek long-term buying opportunities in this region near two key troughs on the chart 💜that p🔴receded the notable January 2023 swing low.

Key Overhead Area Worth Monitoring

During recovery efforts, it’s worth monitoring the $🐽197 area. Apple shares would likely face oveಌrhead selling pressure in this location near twin peaks that developed on the chart in July and December 2023.

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