Another failed attempt by AAPL to pierce through that heave resistance line. Face it, it's not going to happen. Why?
A CNBC article I posted on ST last night showed that AAPL is in the #2 spot in sales. However, more importantly, it shows that China market, much like US and other markets are not buying the X, they are buying last years model 7s.
Big surprise? Not really, these are very expensive phones and on average cost a month's salary in China.
It's been my premise over the long weekend that we will see a very bearish report, with the price of the shares heading to the 162.5 range, which is the 1 standard deviation move that the options market is pricing in Feb 2. However, the April options are pricing in a 1 SD move to 155.
AAPL has disappointed investors many times. It's not the end of the world, but from a trading perspective here are some ideas. (Not recommendations).
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