APPLE EARNINGS DUE ON TUESDAY-MARKET LOOKING MIXED/BEARISH
Apple is scheduled to report its Earnings after the market close on Tuesday. The closing price of Apple stock on Friday was $190.87 per share and has been losing strength over the last two trading sessions. The stock constitutes 11.15% and 5.08% of the Nasdaq100 and the DJIA respectively. The Nasdaq100 and the DJIA fell 1.4% and 0.30% respectively on Friday.
The second quarter tends to be Apple’s smallest in terms of iPhone sales and revenue. Investors should watch for any indications about timing and pricing for the next iPhone release when Apple reports its earnings on Tuesday.
On the technical front, the RSI is currently at 51.82% and suggests that the market may continue trading sideways. The %K has crossed the %D from above to the downside at 90.49% and suggests that market may move downwards.
TRADE SUGGESTION- LIMIT SELL AT 191 TAKE PROFIT AT 189.5 STOP LOSS AT 191.75