A rejection from 180 could hurt.
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APPLE is being rejected by the recent all-time high of a round number 180. A break below 175 last week representing 261.8% Fibonacci extension from the 2019 low is significant and could indicate further weakness to rising wedge support 148.
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The weekly chart shows a rejection from 180 and a close below 175, covering the previous bullish weekly candle to half, making this a piercing pattern. When we consider the end of the year profit-taking and the FED end of extremely dovish monetary policy, this bearish reversal has legs and is likely to continue.
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