Apple (AAPL) shares remained under pressure on Wednesday, bucking a broader ral🌠ly for tech🐟 stocks. 

Shares in the iPhone maker have come under heavy selling pressure this week following news that the company is delaying the rollout of severalꦆ AI feℱatures to Siri, which analysts argue could dent iPhone sales. The threat of 澳洲幸运5开奖号码历史查询:looming tariffs also continues to weigh on sentiment amid growing concerns that import duties imposed by the Trump administration could eat into the company’s 澳洲幸运5开奖号码历史查询:gross margins, givꦕen it manufactures the 💯majority of its devices in China.

Apple shares, which experienced their biggest one-day drop in two-and-a-half years on Monday, have fallen 17% since hitting a record high in December. The stock was down 2.2% at $216 in late trading Wednesday.

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

Symmetrical Triangle Breakdown

After setting a 澳洲幸运5开奖号码历史查询:record high in late December, Apple shares consolidated within a 澳洲幸运5开奖号码历史查询:symmetrical triangle before staging a decisive 澳洲幸运5开奖号码历史查询:breakdown below the pattern and closely watched 澳洲幸运5开奖号码历史查询:200-day moving average this week.

Importantly, above-average volume has acc🌄ompanied the move lower, indicating selling conviction by larger market participants.

While the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) confirms bearish price momentum with a reading below 50, the indicator sits near oversold territory, a region that has for several years provided attractive 澳洲幸运5开奖号码历史查询:tactical trading opportunities in the stock.

Let’s locate major 澳洲幸运5开奖号码历史查询:support levels to watch amid the possibility for further selling and also identify several key overhead areas to monitor if the stock resumes it longer-term uptrend.

Major Support Levels to Watch

Entering Wednesday's session, the $219 level was an area where the stock was expected to find support from a trendline that connects a range of similar price points on the chart between June last year and January this year. The stock had fallen below this location in 澳洲幸运5开奖号码历史查询:intraday trading on Tu🌳esday, but it reclaimed 🔥the area by yesterday’s close.

Selling below this level could see the shares fall to around $207. This region may attract buying interest near last year’s late June pullback low that formed within a broader uptr💧end that played out in the sto🍰ck between April and July.

A more significant drop could bring lower support at the $197 level into play, an area where investors may seek 澳洲幸运5开奖号码历史查询:entry points near the prominent December 2023 peak and August 2024 trough. This location on the chart also roughly aligns with a measured move 澳洲幸运5开奖号码历史查询:price target, which calculates the depth of the symmetrical triangle and deducts that amount from the pattern’s breakdown area. For instance, deducting $36 from $235 ꧃projects a downside target of $199.

Key Overhead Areas to Monitor

The first overhead area to monitor sits around $237. A retest of this level finds a 澳洲幸运5开奖号码历史查询:confluence of 澳洲幸运5开奖号码历史查询:resistance from the🌱 symmetrical triangle’s lower trendline and two key peaks that formed o🙈n the chart in October and July last year.

Finally, buying above this region could see Apple shares climb to the $247 area, a location on the chart where they may run into selling pressure near the symmetrical triangle’s top trendline, which also closely corresponds with last month’s peak and a mid-December 澳洲幸运5开奖号码历史查询:retracement low.

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