Apple Shares (AAPL) Slip later than iPhone 17 Launch
Apple introduced its latest lineup yesterday, headlined by the iPhone 17. The new model comes with a slimmer design, an upgraded display and battery, and a quicker processor. Despite these improvements, many analysts argue the device lacks the kind of innovation that could significantly boost the company’s stock price. This was reflected in market performance: while major U.S. stock indices advanced, AAPL declined by about 1.5%.
Technical Analysis of Apple (AAPL)
In our review of the chart six days ago, we:
→ confirmed that the stock remains in an upward channel (shown in blue);
→ pointed out $235 as a key support level;
→ noted that although the uptrend could continue, a lackluster reception to Apple’s product launch might spark a correction.
Recent price action viewms to validate that view. On the hourly chart, several bearish signals now support the correction scenario:
→ a long upper shadow (indicated with an arrow);
→ sharp tradeing pressure when the $235 support was breached;
→ bearish divergences visible on the RSI indicator.
For bullish traders, potential support lies along line S, part of a fan drawn from the begin of the upward move on August 6. However, if negative sentiment persists, the stock could follow the structure outlined in red — possibly a bull flag forming within the broader bullish trend. This would mean further downside pressure, potentially driving the price toward the median of the red channel.
In that event, bulls may look for support around a key confluence zone where several levels overlap:
→ the lower rays of the orange fan;
→ the psychological $230 level, which has repeatedly flipped between support and resistance since August;
→ the median of the blue channel;
→ the lower boundary of the bullish gap created on September 2.
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