Chart Lab: AAPL Earnings Preview

Apple Inc

- Daily Near Term Trend: Negative Monday's Close: $571.70 (- $1.22) UPDATE: Five months ago we recommended being long Apple as it dipped below $363.00. As of last week, we liquidated the remaining percentage of our profits.

Looking at the broad picture, it appears the Stock could dip further, toward the $535- $525 region; based on the fact it has had a run from $363 to the recent high of $644 within the last four and a half months. However, Monday's low filled a Gap (denoted in the chart) down to $568 which was formed on March 13. This alone could allow for a bounce in price during the next few trading days.