Apple (AAPL) shares will be in the spotlight at the start of the holiday-shortened trading week after falling sharply Friday when President Donald Trump threatened to impose hefty tariffs on the compa♕ny if it doesn't manufacture iPhones in the U.S.

In a Friday-morning post on Truth Social, Trump said he had told Apple CEO Tim Cook that iPhones sold in the US must be built in the U.S. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.," the president said.

Trump’s comments were his 澳洲幸运5官方开奖结果体彩网:latest push to ensure that Apple doesn’t expand iPhone production in India as it shifts away from manufacturing in China, which faces among the highest import tariffs of U.S. trading partners. Apple's imports into the U.S. have so far escaped being hit since the Trump administration 澳洲幸运5官方开奖结果体彩网:exempted smartphones, computers and some other consumer electronic devices from "reciprocal" tariffs imposed in early April. 

Apple shares dropped 3% on Friday to around $195, losing ground for the eighth consecutive session. The stock has lost 22% of its value since the start of 2025, significantly lagging the performance of its 澳洲幸运5官方开奖结果体彩网:Magnificent Seven peers, as sentiment toward the company has soured due to its 澳洲幸运5官方开奖结果体彩网:significant exposure to tariffs

Below, we take a closer look at Apple’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis identify major price levels worth ꦅwatching out for.

Descending Broadening Formation in Play 

Since setting their 澳洲幸运5官方开奖结果体彩网:record high in late December, Apple shares have trended lower within a descending 澳洲幸运5官方开奖结果体彩网:broadening formation, with the price tagging the𒈔 pattern’s upper and lower trendline on several occasions since that time.

More recently, the stock ran into selling pressure near the pattern’s upper trendline and 澳洲幸运5官方开奖结果体彩网:50-day moving average, which has coincided with the 澳洲幸运5官方开奖结果体彩网:relative strength index falling bel🤡ow its neutral threshold to signal weake♈ning price momentum.

It’s also worth pointing out that the 50-day MA crossed below the 澳洲幸运5官方开奖结果体彩网:200-day MA in early April to form a "澳洲幸运5官方开奖结果体彩网:death cross,ඣ" a chart signal that indicates further declines.

Let’s point out major 澳洲幸运5官方开奖结果体彩网:support and resistance levels on Apple’s cha🌸rt that investors will likely be watching.

Major Support Levels to Watch

Further weakness from current levels could see the shares initially fall to around $193. The price may encounter support near this month’s low, which closely aligns with a narrow 澳洲幸运5官方开奖结果体彩网:consolidation period that formed on the chart in the back half 👍of May last y✱ear.

The bulls’ failure to successfully defend this level opens the door for a retest of lower support at $169. Investors may seek 澳洲幸运5官方开奖结果体彩网:buy-and-hold entry points in this location near April's prominent low and a brief period of 澳洲幸运5官方开奖结果体彩网:sideways drift before the last May’s 澳洲幸运5官方开奖结果体彩网:stock gap above the 200-day MA.

Crucial Resistance Levels to Monitor

Upswings in the stock could see the price initially climb toward $215. This area may provide overhead selling pressure near a trendline that links a range of corresponding 澳洲幸运5官方开奖结果体彩网:peaks and troughs on the chart stretching back to June last year.

Finally, a more-bullish move in Apple shares could fuel a rally to around $237. Investors who bought at lower prices may decide to 澳洲幸运5官方开奖结果体彩网:lock in profits in this region where notable peaks developed on the chart last July and Oct꧒obe🍌r.

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As of the date this article was written, the author does not own any of the above securities.