AAPL 0.00%↑ hit a ~16% drawdown from peak this week. It sits just above its 200 day moving average with earnings coming out next Thursday.
It was kind of an orderly sell-off with RSI never reaching oversold conditions.
Zoom out on the relative chart still looks strong.
I’m going to monitor over the next week, with a possible entry position based on how earnings are received. The 200 day provides a tight stop for risk management, and while I’m not overly eager to get into the name, it’s always worth paying attention to drawdowns for potential trade opportunities; particularly in the case of $AAPL.