APPLE Down -4% premarket on Trump's 25% Tariff. Buy opportunity?

Apple Inc. (AAPL) is down -4% on pre-market trading following a warning by U.S. President Donald Trump that the company would have to pay a 25% tariff if phones sold in the U.S. were not made within its borders.

Along with a proposed 50% Tariff on goods from the European Union starting on June 01, these news have inflicted fear again in the markets following 6 weeks of a relief rebound on trade deal talks.

So are these announcements a dip buy opportunity for Apple or round 2 of correction?

Based on the stock's long-term pattern, which is a Channel Up, the recent rebound on the 1W MA200 (orange trend-line) is technically the start of its 2nd Bullish Leg. With the Bearish Legs having similar declines (-35% and -32% respectively), we can expect the Bullish Legs to have a proportional rise as well.

On top of that, the 1W RSI rebounded on its multi-year Support, while the 1W MACD is about to form a Bullish Cross.

As a result, since the 2023 Bullish Leg that was complete on July 17 2023 almost touched the 1.236 Fibonacci extension, we expect the price to disregard the news and continue rising up to the new 1.236 Fib and target $285.00.

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