Stock Of The Day: Is Apple About To Bounce?

Core Viewpoint - Apple Inc. shares are currently trading sideways, indicating a potential end to the recent downtrend, with the stock being oversold and at a significant support level of $258 [1][6]. Group 1: Stock Performance - In late 2024, Apple shares experienced an uptrend until they reached approximately $258, where selling pressure led to a selloff [3]. - Many investors who purchased shares around the $258 mark felt regret after the selloff, leading them to hold their positions with the intention of exiting at breakeven [4]. - A significant number of sell orders were placed when Apple rallied back to $258 in September, creating resistance at this level [4]. Group 2: Market Dynamics - The resistance at $258 was eventually broken in late October, allowing the stock price to move higher [4]. - Remorseful sellers who had previously sold shares at around $258 sought to buy back their shares when the price returned to this level, contributing to a large volume of buy orders [5]. - This influx of buy orders established support at the $258 level, indicating a potential bullish trend as the stock is also considered oversold [6][7].