Apple stock price stalls near $203 as bearish pressure builds below triangle support
Apple stock trades below triangle resistance as bearish signals build ahead of potential breakout
Apple Inc. (NASDAQ: AAPL) closed at $198.78 on June 11, retreating once again after repeated failures to break through the $204–$207 resistance zone. As the market looks ahead to the June 12 session, price remains compressed beneath the 0.382 Fibonacci retracement level at $203.55.
Key highlights
- Apple closed at $198.78 on June 11, consolidating below the $203–$207 resistance zone
- Daily and 4-hour charts show compression inside symmetrical triangle nearing its apex
- Bearish momentum increases as RSI drops and MACD widens negatively on 30-minute chart
The weekly chart continues to reflect hesitation from bulls, who have yet to reclaim this zone following April’s bounce from $168.99. Meanwhile, support near the 0.236 retracement at $190.34 remains intact, suggesting dip-buying interest is still active despite fading upside momentum.
AAPL price dynamics (Source: TradingView)
The daily chart presents a symmetrical triangle pattern, with price caught between descending resistance from the March high and rising support anchored near the $187 level. Multiple rejections near $207.82 and weakening strength above $203 have left bulls on the defensive. With the pattern approaching its apex, a breakout appears imminent—possibly as early as the next few sessions. A daily close above $207.40 would validate bullish continuation toward the 0.5 Fibonacci zone at $214.23.
Short-term signals point to weakening momentum
On the 4-hour chart, Apple remains within a narrowing triangle but is now pressing against its lower boundary. Repeated intraday failures to reclaim $202.05 and increasing sell-side wicks highlight mounting bearish pressure. The $195–$196 range has become a short-term pivot, with a breakdown potentially exposing $190 and even $180 if bearish momentum builds.
Momentum indicators reinforce this downside tilt heading into June 12. On the 30-minute chart, RSI has dropped to 30.65, hovering just above oversold territory, while the MACD shows a widening bearish crossover. Price remains well below the Ichimoku Cloud, with all components pointing lower. A recovery above the cloud’s lower boundary at $200.64 would be required to neutralize the immediate selling bias.
In earlier Apple stock coverage, we highlighted the compression within the $200–$214 range and the significance of the $203.55 Fibonacci ceiling. That barrier remains unbroken, and unless bulls can drive a close above $207.40, the short-term outlook for June 12 favors further downside toward the $190 support zone.
