Watch These Apple Price Levels After Stock Suffers Biggest One-Day Drop Since August | Global News Avenue

apple(AAPL) will be in focus on Friday following yesterday’s news that the stock posted its biggest one-day drop since early August. tech giants Last year, Apple lost its coveted position as China’s largest smartphone seller.

The iPhone maker’s shipments in China fell 17% in 2024, the biggest decline since 2016, as domestic rivals Vivo and Huawei both gained extra growth, according to technology research firm Canalys. market share. The company’s latest iPhones sold in China don’t come with its recently launched Artificial Intelligence (AI) Usage of these features has been limited due to regulatory hurdles, hurting sales as customers turn to rival devices for alternatives.

Apple shares opened 1.2% higher at $231 on Friday after falling 4% yesterday. The stock is down 9% so far in 2025 after rising 30% last year.

Below, we take a closer look at Apple’s chart and pinpoint important price levels to watch following yesterday’s sell-off.

ascending triangle decomposition

since evening star pattern tagged stocks All Time High (ATH) Apple’s stock price fell sharply last month. Selling pressure intensified on Thursday, with prices decisively falling below the lower trend line ascending triangleincreasing the possibility of serious failure.

It’s also worth pointing out that the stock hit a record high volume yesterday since december triple witchcraft trading session, indicating that larger market players were involved in the sell-off.

Let’s apply technical analysis Identify critical ones based on Apple’s chart support and resistance A level investors are likely to keep an eye on in the coming weeks.

Key support levels to track

The first lower point of interest on the chart is located near $218. This location provides a confluence Support from a trend line connecting a series of highs and lows from June to September and sloping upward 200-day moving average.

This position also corresponds to the bar chart’s projected downside target, which takes the stock’s previous primary target. correct From July to August last year, covering the previous month’s all-time high

this bulls If it fails to hold this level, Apple stock could retest lower support at $207. Investors may look for buying opportunities in this area near June 2024 pull back lows, which is also closely tied to several prices above the August lows.

Important resistance levels to watch out for

Investors should keep an eye on a potential retest of the $235 level amid the recovery in the iPhone maker’s stock, which could encounter resistance near the lower trendline and prominence of the ascending triangle. peak It formed on the chart last July and October.

Finally, if Apple stock returns above the top trendline of the ascending triangle, it could climb to around $250. Investors who bought the stock at a lower price may be looking to profit in the area during a brief pause in the stock’s strength. uptrend During the month of December.

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