Apple is sitting right under a big technical level: the 38.2% Fibonacci retracement around $279–280. This spot has been blocking price for days, and the stock keeps bouncing between this resistance and the support levels below.
Buyers have already defended the 50% ($276) and 61.8% ($273) Fib levels, which shows there’s still strength in the uptrend. But unless Apple finally pushes above $280 with conviction, it could swing back down to retest those support levels again.
In short: Apple is coiling up, and the breakout direction from here will tell us everything about the next move.
Buyers have already defended the 50% ($276) and 61.8% ($273) Fib levels, which shows there’s still strength in the uptrend. But unless Apple finally pushes above $280 with conviction, it could swing back down to retest those support levels again.
In short: Apple is coiling up, and the breakout direction from here will tell us everything about the next move.
Note
Holding above the 50-MA is especially important. It signals that short-term trend pressure is turning upward again after weeks of chop. If Apple can confirm this strength with a clean push above $280, the next logical upside target becomes the recent swing high near $289.However, if price slips back under the 50-MA or fails to break through $280, we could see another pullback toward $276 or $273, where previous Fibonacci support levels remain intact.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.