May 4 Chart of the Day - Apple

Apple (AAPL) is set to report earnings after market close on Thursday May 4, 2023.  Based on recent options activity the market is anticipating about a $6.90 move in either direction by the close of market on Friday May 5th.

Can Apple's price continue on its recent breakout on the weekly chart or does it get what could be a technically correct back test of the recent break out.

Some traders are speculating on the direction with heavy options action in both directions while others are simply waiting and reacting to price after the dust settles.

Which camp are you in? We'd like to hear from you in the comments sections.

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UPDATE 5/5/2023