Watch These Apple Price Levels as AI Optimism Propels Stock To Record High | Global News Avenue

apple(AAPL) shares hit a new closing high on Thursday as optimism about the iPhone maker grew, thrusting the spotlight into focus. Artificial Intelligence (AI) These features are likely to accelerate sales growth in 2025.

Earlier this week, the company rolled out more Apple Intelligence features on its devices with the iOS 18.2 operating system, Includes ChatGPT integration with Siriimage generation tools, and the ability for users to create custom emojis. Analysts expect the continued release of features will facilitate an ongoing upgrade cycle, which will help drive sales.

Wedbush analyst Dan Ives said in a recent research note that he expects Apple to become the first company to reach a market capitalization of $4 trillion. Market value Artificial intelligence will continue to support technology stocks in 2025. As of Thursday’s close, Apple shares have risen nearly 30% since the beginning of the year, slightly outperforming the broader market. S&P 500 Index Performance over the same period.

The stock was little changed at about $248 in premarket trading Friday.

Next, let’s take a closer look technical On Apple’s chart, note important price levels that investors might be concerned about.

Volume decreases, uptrend continues

As buying interest is found near the lower trend line ascending triangle Apple shares continued to move significantly higher in early November, with the price breaking out of the bullish chart pattern seen earlier in the month.

Although this move shows continue Looking at the stock’s long-term uptrend, it’s worth noting that weekly declines trading volume It is recommended that larger market players such as institutional investors and hedge funds are likely to remain on the sidelines.

Let’s use technical analysis Predict how Apple stock’s continued trend is likely to develop and identify two major levels that may be on offer support period callback.

Bar chart analysis

Investors can use bar chart tools to predict potential bullish trends price target And predict how long the stock’s current upward trend might last.

To predict price targets, we extract the trending price bars that preceded the ascending triangle and reposition them starting from the current move higher. This predicts a bullish target of around $300, mental rounds Areas where investors may decide Lock in profits.

When predicting the timing of a likely continuation of a move, we analyze the date range of the previous trend, which in this case occurred within 11 weeks. This suggests that the current uptrend could continue into late January if price history matches.

Major support levels to watch during pullbacks

During the initial pullback, the first area of ​​concern was near $237, a location on the chart for investors who don’t like to chase. breakthrough can seek entry point Near the top trendline of the ascending triangle.

Finally, a significant decline in Apple stock could lead to a return to lower support at $197. This area is currently just below the 50-week moving average and may encounter buying interest near the trend line connecting July and December 2023 peak with the lows in August of this year.

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As of the date of this writing, the author did not own any of the securities mentioned.