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AAPL In The Aftermath of the Earnings


In the aftermath of earnings and Tim Cook's conference call last eve, Apple Inc. (AAPL) is down 2.9% at 114.90, off of an initial post-EPS spike-high at 121.84.

My pattern and channel work argue that AAPL has unfinished, EPS reaction weakness into the 113-111 target zone, from where my work will be friendly to entering a new long position, or adding to existing ones with the larger, dominant, 15-month base formation that projects much higher prices in the upcoming months.

In other words, weakness in reaction to Q3 earnings is setting up a buying opportunity in AAPL ahead of another upleg that points to 130-135.

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