Apple Ripens as Amazon, Starbucks Set to Report

NEW YORK ( TheStreet) -- After the close on Tuesday Apple ( AAPL) ($406.13) reported what appeared to be better than expected earnings. Some say the EPS estimate was $10.00 per share, others said $10.18. So, was the result a beat by eight cents or a miss by nine cents? Apple did beat on the revenue line and once the stock halt ended, the share price surged to nearly $430.00 a share.

I have been profiling Apple as a value play since the stock closed below my annual pivot at $510.64. The stock has been in my ValuTrader Model Portfolio with buy-and-trade strategies averaged in down to a buy at $416.29 on April 17. As soon as the stock touched $429.50 in after hours trading I send an alert to subscribers to reduce the position at $429.50. By 8 p.m. the stock was in the red at $403.95.

Apple still has a buy rating and my weekly pivot at $403.52 and my annual pivot at $421.05 became magnets in after hours trading. The 200-week SMA is $374.02 with monthly, semiannual and annual risky levels remain $461.98, $470.21 and $510.64.

The stage was set for a positive trading day on Tuesday with positive pre-market earnings from three Dow components:

Du Pont ( DD) ($52.49) beat EPS estimates by two cents earning $1.56 per share. The stock opened higher, dipped briefly into the red to $50.11, then rebounded to a new year-to-date high at $52.54, as my weekly pivot at $51.08 was a magnet for this hold rated Dow component. My monthly value level is $45.04 with a semiannual risky level at $60.06.

Travelers ( TRV) ($86.35) beat EPS estimates by 30 cents earning $2.31 per share. The stock opened at $87.41 traded up to $89.00, then dipped to $85.76, as weekly and monthly pivots at $86.28 and $87.09 were strong magnets on this hold rated Dow component.

It was a volatile ride for United Technologies ( UTX) ($92.89) as the stock missed EPS estimates by two cents earning $1.28 per share. The stock opened slightly lower, but traded into the green with a day's high at $94.25 versus my semiannual pivot at $94.43. This buy rated Dow component then dipped to a day's low at $90.65 versus my annual value level is $90.05.

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