Apple shares came under pressure Monday after Jefferies downgraded AAPL from Hold to Underperform and lowered its price target, adding a fresh fundamental catalyst to a chart that was already showing weakening momentum. AAPL has pulled back sharply from its late-July highs and is now trading near $308, below both its 8-day and 21-day EMAs. The PPO has crossed bearish and fallen below zero, while the negative histogram continues to expand. ADX is also beginning to confirm the move, with -DI above +DI, indicating sellers currently have the advantage.

The important area to watch now is $305–308, where AAPL is testing both price support and its 55-day EMA. A decisive break below this zone could put $300 in play, followed by stronger support near $292–293, potentially creating an opportunity for puts. However, because AAPL has already fallen considerably from its recent high, entering puts directly into support could mean chasing the move. A failed bounce or confirmed break of $305 would provide a cleaner bearish signal, while a hold here could produce a short-term rebound toward the $314–317 area.

Wishing you the best,

Wendy

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