According to yesterday's figures, Apple's holiday season reached new records and the company's iconic iPhone, whose popularity was once considered fading, made a comeback.
Apple (NASDAQ 🙂 has risen $ 6.22, or 1.96% on the premarket. It beat both EPS, which was $ 4.99 – although it was expected to be $ 4.54 – and revenue, which was $ 91.82 billion, better than the $ 838 billion forecast. It is also noteworthy that of the 26 times that the company's EPS was reported, it only missed it once. Even more impressive: the results beat both headline numbers for the same quarter of the previous year.
Although the market has once praised the iPhone, the income from the smartphone makes up more than half of the company's turnover. This year they amounted to $ 55.96 billion, an increase of more than 7% yoy.
In addition, the management presented a positive outlook, while indicating that the corona virus outbreak in China gives the company less visibility than would normally be the case.
Of course, fundamental events such as geopolitical jitters, future negative guidance or even language errors by the Fed or other high-profile central banks can weigh on markets, including Apple shares. But at the moment, at least based on his techniques, the stock seems to perform better.
Among the technical giants currently reporting earnings, Apple & # 39; s shares performed well during the general sale. Amazon (NASDAQ 🙂 fell 4.45%, although yesterday's rally reached the loss to 2.69%. Facebook (NASDAQ 🙂 lost up to 4.13% of the value, although yesterday's rebound reduced it to a loss of 2.02%. Microsoft (NASDAQ 🙂 fell by 2.88%, shrinking to 0.98% since yesterday.
Apple, which, however, lost up to 3.28% from the record high of $ 323.32 it reached on January 24, has now recovered almost all of its losses. The price has returned above the most recent upward line since the low of December 3.
Yesterday, prior to the company's earnings report, it was a comfortable 0.48% below its record. Premarket trading suggests that a new record will be reached today during the US session.
That said, both RSI and MACD have reached a top and offer sales signals. Therefore, conservative traders must stay out of the upcoming rally before the price returns to the upward line.
Trading Strategies
Conservative traders must wait for a return to at least $ 250 and then wait for proof of demand.
Moderate traders can continue for a long time with a correction to the $ 300 level or thereabouts, following signs of a consolidation.
Aggressive traders were able to take a counter short position after recognizing resistance during the session.
Trade sample – arrangement of short positions
