Apple (AAPL) shares are in the spotlight Monday following news over the weekend that Warren Buffett's Berkshire Hathaway (BRK.A; BRK.B) has co🧜nꦚtinued trimming its 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官方开奖结果体彩网: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.

Appl🐼e shares were down 0.9% at around $221 in midday trading Monday.

Below, we navigate Apple’s chart using 澳洲幸运5官方开奖结果体彩网:technical analysis to identify important price levels wﷺorth watching out for.

Ascending Triangle Breakdown

Apple shares traded within an 澳洲幸运5官方开奖结果体彩网:ascending triangle between July and October before breaking down below the patte🎃rn’s lower trendline late last month following the company's quarterly results.

Importantly, the recent move lower has occurred on increasing volume, indicating a r♕ise in selling pressure among market pꦓarticipants.

Let’s point out three important 澳洲幸运5官方开奖结果体彩网:support levels on Apple’s ch༺art and also identify key overhead areas to monitor if the stock resumes its l🤪onger-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, whi🎐ch also closely aligns with troughs in July and September.

A decisive 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网: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官方开奖结果体彩网:entry points around this area near a 澳洲幸运5官方开奖结果体彩网:horizontal line linking a series of comparable trading𝄹 levels on the chart frജom June last year 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官方开奖结果体彩网:bear trap that lead📖s to a resumption of the stock’s longer-term move higher.

To forecast an overhead 澳洲幸运5官方开奖结果体彩网:price target above the stock’s 澳洲幸运5官方开奖结果体彩网:all-time high (ATH), we can apply the 澳洲幸运5官方开奖结果体彩网:measuring principle. We do this by calculating the distance of the ascending triangle near its widest point ꦜand adding that amo🎉unt to the pattern’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.