AAPL is seeing a little courtesy bounce today after yesterday’s move down and its daily and weekly trading range is compressing which means smaller moves on the swings.
It has also tested this $420 level several times now… the more we test this area, the greater the probability that we break through to the down side.
Today, we bounced off this area again and are currently sitting right under $425.
AAPL Earnings is coming!
One week from today AAPL announces their quarterly earnings. This is going to be huge, last time they announced the stock tumbled and has still yet to recover. Many analysts are still lower expectations for AAPL and fear has been growing in shareholders minds whether or not to hold over the announcement.
See how the AAPLTrader Community is trading AAPL right now!
Many Investors have Long term Buyers Remorse
Long term shareholders have always been rewarded for their patience, however these last seven months of selling has tested even the most patient investors. As many of you know, I’m not a long term buy and hold type of trader / investor. I’m an active swing trader, getting both long and short using options to leverage my capital and reduce risk exposure in my trades. I’m still in the camp that this is the best way to do it (if you have the time).
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