Apple shares started November on a weak note, declining 1.3% to USD 222.91 after the release of quarterly results that exceeded expectations. This is the third consecutive day of losses for the tech giant, contributing to a weekly decline of 3.7%. The stock has also fallen below important moving averages, raising concerns about its short-term outlook.

To potentially recover, Apple's stock needs to rise above the 100-day moving average at USD 223.50 and surpass the interim high of USD 225.60 reached on August 2. If successful, attention will shift to the 50-day moving average at USD 227.13, with further resistance expected between USD 231.00 and USD 232.92. A breakthrough in this range could lead to challenges at the July peak and the all-time high of USD 237.23.

On the other hand, the first support level is identified at the October low of USD 221.33. A drop below this level, along with Friday's low of USD 220.27, could trigger a correction towards the USD 217.54 to USD 216.79 range. If the stock fails to rebound, the September low of USD 213.92 may come into play, with further declines possible down to the interim low of USD 206.59 from June 24.