AAPL update - Earnings release

$AAPL just released their q3 earnings with a miss.  The stock is currently halted, but judging by the nasdaq futures, currently - 40, it will open at or around the short target.  If I were short appl based on the info in the previous posts i would cover right here, as soon as trading resumes. 

Job done.

$aapl update

 

Further to my previous posts on Apple back in August and a few weeks ago, the apple stock has closed today at -$22 or -3.5%.  The stock is rapidly closing in on the support levels noted in the previous post.  As you can see from the chart below, the stock tested and retested the neckline and is now trading down to the support levels.



This stock has been in a parabolic move for previous months and has been overdue a correction.  To put this correction into context we are currently less than 15% from the highs and still trading above the 200 day moving average,  For  aapl bulls who are nervously holding here, pullbacks to the 200 daily moving average are normal and indeed healthy.    The stock is still in a up trend and it is high probability buyers will come in at the support levels. Disclosure, I have no position in $aapl. 

$aapl Head and Shoulder's

Further to the previous post on apple, we can now see a classic topping pattern formed on this stock.

As you can see this targets around $600.  The rising purple line is the 200 simple moving average.  The stock has been above this average for roughtly a year, so overdue to pullback.