Apple Inc (AAPL) reports earnings on Tuesday 10/27 after the market close (approximately 4:30 pm ET). According to Estimize, Wall Street is expecting AAPL earnings to come in at 1.88 EPS on $50.8B in revenue.
It will be interesting to see how the market reacts to AAPL earnings after seeing Apple stock rally off its yearly pivot support all the way back up to notable resistance (118-121).
Note the 200 day moving average (not shown) is part of that resistance as well. So how the stock price breaks following the AAPL earnings announcement should be of interest to the broader market.
The last 2 times Apple announced earnings (blue circles on the chart), AAPL stock price fell the follow day(s). This past week we heard from Verizon (VZ) and AT&T (T) that iPhone 6s sales are good, but not great.
Is Apple (AAPL) setting up for a repeat like the past 2 quarters? Â Watch near-term resistance, and either way, know where your pivots are!
Apple Stock Chart (AAPL) –Â Pivot Chart
Trade safe and have a great week. Â Thanks for reading.
Twitter: Â @mpgtrader
The author does not have a position in any mentioned securities at the time of publication. Â Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
