Red line -resistance
Green line- support
Blue lines- Fibonacci retracement levels
AAPL stock price remains under pressure. Price closed yesterday below $174 after forming another lower high. Price is now challenging the support area around $172. As long as price is below the red downward sloping resistance trend line, AAPL stock will be vulnerable to more downside. A break below $172 will open the way for a bigger decline. A break below the green support area will open the way for a decline towards the 50% Fibonacci retracement at $161. If support at $172 holds, we could see bulls trying to test the red resistance trend line at $184.
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