Apple Tests $200 Support as Volume Spikes Ahead of Earnings

Apple shares slipped 2.3% to $201.50 on Tuesday, their lowest close in three weeks. The stock has shed 6% from its April high. Trading volume ran 20% above the 20-day average, a sign of conviction behind the selloff. The $200 level has held as support since early March. A break below that would leave $190 as the next technical reference, the February low. Options market data from Trade Alert show implied volatility pricing a 4% move in either direction for the May 1 earnings report. The 10-year Treasury yield's rise above 4.5% has pressured growth stocks broadly, and Apple was no exception. Traders said the move was largely technical, with stop-loss orders clustered near $200. The RSI fell to 32, entering oversold territory for the first time since January. A bounce from here would need a catalyst; the earnings print is the next scheduled one.