Apple shares are now 3 percent below the 200-day moving average, a level it broke on Tuesday.
"I do see a tremendous amount of support down at $182," Baruch said. "If we can get back above that 200-day moving average, remain constructive on that path, I think $204 to $207 could be in the cards here over the next month."
A move back to $207, a level seen only a week ago, represents 10 percent upside. That rally would pull Apple shares out of a bear market. However, it would remain 11 percent lower than the record, keeping it in a correction.
Apple's sharp sell-off has presented a buying opportunity for investors, said Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management.
"I think it's at a big discount. This panic and craze is unjustified," Bapis told "Trading Nation" on Wednesday.
Look at its year-to-date performance as an example, Bapis said. The stock has risen more than 10 percent in 2018, far better than the S&P 500's gain of less than 2 percent.
"If we shift to fundamentals, millennials want it, teenagers want it, adults want it, and they're all talking about the next iPhone, the next product, the next Apple experience," added Bapis. "It's trading at 14 times earnings with a small dividend yield and still dominating the market, we're long this stock for the foreseeable future."
Wednesday marked Apple's fifth straight losing session, a streak not seen since April.