Apple (AAPL) Stock Price Levels to Watch on Earnings: Trading Strategy

Apple Inc won’t get a smooth landing as compared to last quarter. One should not look at the valuations, its still a growth stock, despite giving away dividends. One should not get fooled by the low P/E on Apple’s stock. If it does not beat estimates this time, this stock should slowly slide down to $475 and even lower. The immediate support level to watch is a tad below the current market price.

Trading Strategy Apple (AAPL): Outlook for Earnings

However, we cannot rule out a possibility of a suckers rally in this stock if the results are in-line to estimates. If the results are convincing enough, then we could see a rally to $590, where this stock could face supply pressure.

If results come about dicey, then immediate support could come at $525 and then $500. If the stock were to crash below these supports then the technical trend will open up deeper downsides.

For now, short term traders should be positioned for a ranged move in a very wide band ranging between $500 and $590. The move from current price of $560 entirely depends on how earnings change the sentiment on the stock.

Apple Stock 5 Day Performance: Earning concerns clearly Visible!

Related posts: