Apple (AAPL) shares will be in focus on Friday after recording their largest one-day drop since early August yesterday following news that the 澳洲幸运5官方开奖结果体彩网:tech giant lost its coveted position as China’s largest smartphone seller last year.ಌ

Data from technology research firm Canalys showed the iPhone maker’s 2024 shipments slumped 17% in the country, their largest decline since 2016, as domestic rivals Vivo and Huawei both captured additional 澳洲幸运5官方开奖结果体彩网:market share. The company’s latest iPhones sold in China aren’t equipped with its recently launched 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) features due to regulatory hurdles, weighing on salꦡes as customers turn to competitors’ devices for alternati♏ves.

Apple shares were up 1.2% at $231 in the opening minutes of trading Friday, after falling 4% yesterday. The stock is down 9% so far in 2025, after gainin🧸g 30% last year.

Below, we take a closer look at Apple’s cha🥃rt and point out important price levels worth watching after yesterday♑’s selling.

Ascending Triangle Breakdown

Since an 澳洲幸运5官方开奖结果体彩网:evening star pattern marked the stock’s 澳洲幸运5官方开奖结果体彩网:all-time high (ATH) last month, Apple shares have trended sharply lower. Selling pressure intensified on Thursday, with the price falling decisively below the lower trendline of an 澳洲幸运5官方开奖结果体彩网:ascending triangle, raising the possibility of🍰 a significant breakdown.

It’s also worth pointing out that the stock recorded its highest volume yesterday since December’s 澳洲幸运5官方开奖结果体彩网:triple witching trading session, indicating that larger market players participated in the sell�🌞�-off.

Let’s apply 澳洲幸运5官方开奖结果体彩网:technical analysis to Apple’s chart to identify crucial 澳洲幸运5官方开奖结果体彩网:support and resistance levels that investors will likely be watching in the 💦coming weeks.

Key Support Levels to Track

The first lower point of interest on the chart sits around $218. This location provides a 澳洲幸运5官方开奖结果体彩网:confluence of support from a trendline that links a series of highs and lows from June to September with the upward sloping 澳洲幸运5官方开奖结果体彩网:200-day moving average. 

This location also corresponds with a bars pattern projected downside target that takes the stock’s prior major 澳洲幸运5官方开奖结果体彩网:correction from July to August last year and ⛎overlays it from last month’s reꦍcord high

The bulls’ inability to defend this level could see Apple shares revisit lower support at the $207 level. Investors may look for buying opportunities in this area near the June 2024 pullback low, which also closely align♋s with several prices ♐situated just above the August trough.

Important Resistance Levels to Watch

Amid a recovery in the iPhone maker’s stock, investors should watch for a potential retest of the $235 level, a location where the shares may run into resistance near the ascending triangle’s lower trendline and prominent peaks tha🧸t formed on the chart in July and October last year.

Finally, a move back above the ascending triangle’s top trendline could see Apple shares climb to around $250. Investors who have purchased the stock at lower prices may look to book profits in this region near a brief pause in the stock’s strong uptrend during December.

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