Saad Ullah
⬤ Apple AAPL is showing early technical weakness after breaking below the $257 support level that held the stock throughout its recent rally. Price action has shifted from bullish to cautious as shares hover near $255, testing a critical ascending trendline that's supported the advance since April.
⬤ The stock peaked near $280 before pulling back and losing the horizontal support zone around $257—a level that previously acted as resistance earlier this year. This breakdown puts Apple back below a key reference point, with the rising trendline now serving as the last line of defense for the uptrend.
⬤ Momentum appears to be fading. Lower highs are forming after the peak, and buying pressure has noticeably weakened compared to earlier in the rally. Volume during the pullback remains light, suggesting bulls aren't aggressively defending current levels. If the trendline fails to hold, further consolidation or downside could follow.
⬤ The weakness in Apple carries broader implications. As one of the largest and most influential tech stocks, its performance often sets the tone for major indices. How the stock behaves around this trendline could help shape near-term market sentiment—whether it stabilizes here or continues lower.
Saad Ullah
