Big Tech
Apple Shares Are Tanking. Here Are Levels Traders Are Watching
- Shares have shed more than 10% from their December peak
- Traders are monitoring support levels at October low near $166
An Apple store in New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Traders are eyeing Apple Inc. after its stock slid below a critical psychological threshold on Tuesday as shares entered a technical correction for the first time since August this month.
The shares, which failed to hold the $180 support level last week, traded for less than $170 at various points during Tuesday’s session. Breaking through that level and holding there could presage a pullback to its October low of $165.67, according to Todd Sohn, managing director of ETF and technical strategy at Strategas Securities.