It’s been a crazy 24 hours for Apple Inc. (AAPL) investors and traders. Those who saw the news last night were watching it go by down 7% percent or so. Some traded it after hours around the recent support of $355-$358.
This Morning did a video with Jill Malandrino from theStreet and we mentioned buying it on the open for a push to fill the gap. (see chart below)
Stock has been holding higher all day with the volatility in the SPX. We see a nice wedge forming. Short term, if it gets above and stays above $372ish on a 30/60 minute basis, we can see a gap fill to go positive.
In the Macro chart you will see a big Wedge/Pennant pattern forming that is controlling the complexion. Stock will need to break above $378-$380 to get real momentum. ALL IN ALL- looks good and it took the news in stride.
Disclosure: Long AAPL