I have been trading apple for the past 4 trading days and I have detected a pattern:
at the beginning of the day it spikes up, 30 minutes after it sells off, then it trades down for most of the day at depressed levels, and finally it spikes up again 1 hour prior to the close to close either flat or slightly up or down.
Maybe MM manipulation. It is has been down a lot, so the pick up in the end are most likely short covering. I say they are trying to push down shares in preparation for earnings in the end of July. I am going to keep buying as it goes down.
It will be back to 450 by the end of July. Let's see if I am right.
Who knows. Any explanation is just a guess. I wouldn't rely on it. If you day trade, you need to develop a trading system using intraday charts and indicators; and follow your system objectively without second guessing yourself.