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Can Apple Hold This Level Into Earnings



July 23, 2013 – Comments (3) | RELATED TICKERS: AAPL

Apple Inc. (NASDAQ:AAPL) is trading at $420.85, -5.46 (-1.28%), just thirty minutes prior to releasing earnings. This is a sharp pull back on a day when the markets are trading on the flat line. Many are speculating this price action may say something about the earnings being worse than expected. 

The key into the price action of Apple on earnings is a master level pivot line at $420 - $421. If Apple moves below that area, the stock could likely collapse on earnings. If it holds that area into earnings, upside is likely. Should it close the day between that $420 - $421 level, it is a 50/50. This is one of the biggest earnings announcements of the season and all eyes are glued to the screen.

Gareth Soloway

3 Comments – Post Your Own

#1) On July 23, 2013 at 8:53 PM, dragonLZ (92.34) wrote:

AAPL is up $17 or 4% after it released earnings.

My prediction is that by tomorrow morning it will actually be lower than where it closed at today.

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#2) On July 23, 2013 at 11:25 PM, awallejr (52.97) wrote:

My prediction is otherwise. It closed at 419. Yet earnings pushed it  to 430s so no collapse on earnings as Gareth tried to argue.  Iphone kicked ass.  It did because it is a damn good product. I own it and won't switch as millions of other users won't.

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#3) On July 24, 2013 at 11:46 AM, dragonLZ (92.34) wrote:

My prediction wasn't that AAPL won't do well in the future (I started accumulating shares 5 weeks ago), I was just predicting that it will be down today. I guess I was wrong.

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