$AAPL

Some observations on the price movement of the past 3 days

AAPL 0.00%↑ is on a three day rip, sitting now at some interesting levels that could have broader market implications.

The blue line represents the anchored vwap from the company’s Feb 2nd earnings release. After giving up that level and dipping below the 200 day, buyers have stepped in. The volume of this movement has been below the 20 day average, which could signal a potential fake-out, or that this next sequence is just beginning. We can tell from the volume bars on the right that more buying of late has occurred below the 200 day.

From a sequencing perspective, there may be more room to run. It’s still just sideways mess from the longer term perspective, but above $154/$155, there is a favorable risk/reward trade.