Dip opportunity due to Apple warning on revenue guidance
Apple just warned on revenue guidance for 2nd qtr 2020. They warned they will miss the revenue due to coronavirus.
No doubt tomorrow, we will see a drop.
Level 1: It will drop to $307 to $310 range
Level 2: it will drop to $295 to $298 range
Level 3: it will drop to $280 to $290 range
Based on what happened January 2nd 2019, it dropped about 9%, which would bring current price to around $296 range (level 2 drop).
But what we have seen many times with Apple, is that after the drop, the next day is a nice recovery.
Wait until end of the day to possible bottom out.
No doubt tomorrow, we will see a drop.
Level 1: It will drop to $307 to $310 range
Level 2: it will drop to $295 to $298 range
Level 3: it will drop to $280 to $290 range
Based on what happened January 2nd 2019, it dropped about 9%, which would bring current price to around $296 range (level 2 drop).
But what we have seen many times with Apple, is that after the drop, the next day is a nice recovery.
Wait until end of the day to possible bottom out.
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