Apple Stock Analysis: Key Support Levels Hold as Shares Eye Potential Upside

Apple Inc. (AAPL) shares have once again tested a long-standing trendline support that dates back to 2019—marking the fourth time this key technical level has held firm on the weekly chart. Historically, each touch of this trendline has been followed by a notable rally, and the current setup suggests a similar scenario could unfold.

Apple Stock Price Overview

As of now, Apple shares are trading around $198.47, with the 2024 low sitting at $168.07. The trendline support is currently around the $175 level. After the most recent test of this support, AAPL rebounded to approximately $212, but has since pulled back to the $198 range.

Since 14 April, the stock has been range-bound between $190 and $214. A decisive break below $190 could signal a move back towards the trendline support at $176, with the yearly low of $168.07 offering an additional cushion.

Upside Potential for Apple Shares

On the upside, a breakout above $214 may spark bullish momentum, mirroring previous rallies following successful support tests. Should this occur, key resistance levels to watch are:

• $225 – Initial resistance target

• $237 – Secondary resistance level

• All-Time Highs – Potential long-term target if momentum sustains

Technical Indicator Watch: MACD Signals

From a technical perspective, the MACD (Moving Average Convergence Divergence) is currently at its lowest point since 2019, signalling potential oversold conditions. This could attract short-term buyers, providing a lift back towards the upper range of $214.

However, it's important to note that the MACD remains in bearish territory, which could continue to exert downward pressure on the stock in the near-term.