Apple's Stock Struggles: What's Next?

Apple's stock has been on a rough patch. It's been dropping for eight days straight. This downturn started after a certain political figure made some strong statements. He suggested that if Apple doesn't make iPhones in the U. S. , the company could face big tariffs. This news hit the stock hard, causing it to drop about 22% since the start of the year. This decline is quite noticeable when compared to other big tech companies. The stock's recent trouble began when it hit a key resistance level. This level is part of a broader pattern that's been forming since late last year. The stock has been bouncing between this upper trendline and a lower one. Recently, it faced selling pressure near the upper trendline and the 50-day moving average. This pressure coincided with a drop in the relative strength index, indicating weaker momentum.There are a few key levels to watch. If the stock keeps falling, it might find some support around $193. This level aligns with a low point from this month and a consolidation period from last May. If it breaks below this, the next support level is around $169. This is near a low point from April and a period of sideways movement before last May's gap above the 200-day moving average. On the upside, if the stock starts to climb, it might face resistance around $215. This area is near a trendline that connects several peaks and troughs from last year. A more significant rally could push the stock up to around $237. This level is where notable peaks formed last July and October. It's important to note that the 50-day moving average crossed below the 200-day moving average in early April. This is known as a "death cross, " a signal that often indicates further declines. Investors should keep an eye on these levels and the broader market context. The political statements add an extra layer of uncertainty. It's a good idea to stay informed and think critically about how these factors might affect Apple's stock in the coming weeks.