To recap, this move down in AAPL is due to report from JPM about lackluster iPhone X sales.
Other news released in the last few weeks is that AAPL is throttling the speed of older iPhones with iOS updates.
Today 1/30, news was released that the U.S. is probing AAPL on the throttling issue that became apparent a few weeks ago. See link below for story.
The important thing is not the news but the reaction and I believe AAPL revealed itself today on this news release.
When this news today was released, it of course caused a volume spike and quick selloff, but it was all to obvious that the selloff was being used as a big buying opportunity for someone.
See the 2-minute chart with my annotations of today's action below:
Zooming out to the hourly timeframe lets us get perspective of the move down from $180 thus far and also shows the bullish action on the last 3 candles of the chart:
This looks like the start of a run up into earnings. I will look to be a buyer of bullish activity tomorrow.
Legal Disclaimer:
This is my opinion only.
This is for entertainment purposes only.
This is NOT financial advice nor a recommendation to buy or sell anything.
Yahoo link to today's news release:
https://finance.yahoo.com/news/u-probe-apple-over-updates-180227080.html
