The weakness in Apple is unparalleled
$Apple(AAPL)$ 2025 has presented a continuous downward trajectory, and over the last three months, a symmetric series of lower highs has been notably evident. Last week's candle initially suggested some continuation, but $203, which served as the central level for the week that just ended, acted with precision as resistance.
The sequence of lower lows now strongly suggests that the $192 long-term level will be tested. As long as the price remains below $199.4 (the central level for next week), $192 is the immediate next destination.
Recalling yesterday’s educational content regarding support and resistance levels, when I wrote about starting from the long term picture and zooming in progressively, the broader picture reveals $192 as an annual level, with the monthly levels showing $191 as a line to watch. Furthermore, the immediate bearish level for the week is $192.8. This confluence indicates two key points:
$192 represents a confluence zone of annual, monthly, and weekly levels, suggesting it may act as support. However, this must be proven by price action.
The weekly candle shows conviction, and $192 is very close to the latest price. If the $192 zone is breached, a major resistance level would be established, and the world's third-largest company by market cap would continue to hinder the major indices from reaching all-time highs.
Conversely, if a Doji candle forms on Monday, or if an intra-week sell-off bounces and recovers $199.4, the price could then aim for $202.7. This is the monthly central level, which is currently acting as resistance and provides further reference for Apple's bearish momentum, as indicated yesterday in the educational content about combining monthly and weekly levels.
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