Watch These Apple Price Levels as Stock Hits Record High on iPhone 17 Sales Optimism

Core Insights - Apple shares have reached a new record high for the first time this year, driven by strong initial sales of the iPhone 17 series [1][8] - The iPhone 17 series has outperformed its predecessor in both the U.S. and China during the first 10 days of availability, with the base model excelling in China and many U.S. consumers opting for the Pro Max version [2] - Apple shares have increased by 30% from their August low and are up nearly 5% year to date, although they lag behind most of the Magnificent Seven tech stocks in performance since the beginning of the year [3] Technical Analysis - A potential bear trap scenario has emerged as Apple shares reversed from a previous downward trend, closing above a pennant pattern [5][8] - The relative strength index indicates bullish momentum, suggesting that the stock has room for further upward movement before consolidating [6] - A bullish golden cross was generated when the 50-day moving average crossed above the 200-day moving average last month [6] Price Forecasting - Bars pattern analysis suggests a potential upside target for Apple shares around $308, with the upward trend expected to continue until late November or early December [7][8] - Key support levels to monitor on Apple's chart are near $250 and $237 [8]