Apple is struggling to ship manufacturing equipment to India from ChinaIt moved subassembly lines back to China from India due to quality and cost concerns It is unable to use Chinese firms for production in India due to geopolitical tensions
Shares of Apple are trading down -0.37% in premarket trading at $203.85. Yesterday the price moved briefly above its 200 hour moving average, currently at $204.36. The 38.2% retracement of the move down from the December all-time high at $260.10 comes in and $203.93. The price is trading above and below that level in premarket trading. If the buyers are to take more control, they would need to get back above both the 30.2% retracement and the 200 hour moving average. Absent that and a rotation back down toward the 100 hour moving average at $194.95 cannot be ruled out.
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