See-Saw Action In Apple Ahead Of Tuesday's Earnings Report
Apple Inc. (NASDAQ: AAPL) shares are trading lower by $3 at $116.08 in Monday's session. At one point, when it bottomed below Thursday's close ($115.50) at $115.30, it had surrendered all of Friday's gains.
Following a $1 lower open, it rallied only a nickel to $118.13 before continuing lower. If the decline continues beyond the current intra-day low, there may not be any major support until the pair of lows at the $114 level from last Wednesday and Thursday.
Joel Elconin is the co-host of Benzinga39;s #PreMarket Prep, a daily trading idea radio show.
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