Apple has been moving decisively lower over the past few sessions, and from a technical perspective this decline is not accidental. On the chart, we can clearly see a head and shoulders formation marked with a green rectangle. This is a classic reversal pattern, and the key moment already happened: the price broke below the black neckline. That breakout confirms a proper sell signal and shifts the medium-term sentiment into a bearish one.
At the moment, Apple is trading right on an absolutely key horizontal support around $259, marked with purple color. This level is important not only technically but also psychologically, because it represents the first logical target for sellers after the neckline break—and that target has now been reached. From here, the next downside objective is the red uptrend line, which has been supporting the broader trend for a long time. Given the structure of the move and the strength of the breakdown, the probability of price extending toward that red uptrend line is relatively high.
That said, this purple support should not be ignored by buyers. It is a level where demand can realistically show up, and a short-term bounce is possible if buyers manage to defend it convincingly. Any such rebound, however, would for now be considered corrective unless the price manages to climb back above the broken neckline. As long as Apple remains below that neckline, rallies are more likely to be selling opportunities rather than the start of a new bullish leg.