Watch These Apple Price Levels as Stock Trades Near Record High
AppleApple(US:AAPL) Investopedia·2024-10-16 13:35

Group 1 - Apple shares reached a new record high of $237.49 during intraday trading, coinciding with the launch of the latest iPad Mini [1][2] - The stock has increased over 20% since the beginning of the year, but has traded sideways for the past three months due to concerns over the delayed rollout of Apple Intelligence [2] - A bullish golden cross signal was formed in June when the 50-day moving average crossed above the 200-day moving average, leading to an upward trend before entering an ascending triangle pattern [3] Group 2 - Key overhead levels to monitor include $237, which may attract significant interest, and a potential bullish target of $270 based on the measuring principle from the ascending triangle [4] - Crucial support levels to watch during potential retracements include $233, which may act as new support, followed by $225 and $218 as deeper pullback levels [5][6] - The highest trading volume since September 20 indicates institutional investing, suggesting strong market interest in Apple shares [3]

Watch These Apple Price Levels as Stock Trades Near Record High - Reportify