$AAPL reports earnings Tuesday August 1st After the closing bell.
$AAPL comes into tomorrows report bumping up against long term trendline resistance. The reaction to tomorrows report will likely dictate the price action for $AAPL for the rest of 2017. A break above resistance puts $160+ into focus. A break below sets the stock up for a 30%+ correction to long term support.
Some of the recent post earnings price reactions:
The market is expecting a 4% move either way. I think we will get a bigger move than that. Since 2014 the biggest reaction has been 6%, and I think this report will spark an at least 6% move.
I'm going to wait until later today or possibly tomorrow to get into a trade before the earnings report. I'll let you know in the #toppicks room when I make it.