Nick Chiu's  Instablog

Nick Chiu
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Senior Options Trading Strategist at Optionity, MBA. Our trading approach starts with the fundamentals, then through short-term technical analysis, to finally leverage options trading (with the combination of long and short positions) to achieve favorable risk and reward ratio trading plays. Our... More
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Optionity
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Optionity - specialized in Options Trading
  • Optionity Quick Report 11/19/2012 0 comments
    Nov 19, 2012 7:11 PM | about stocks: INTC, AAPL

    INTC

    INTC opened up and dropped to intra-day low of $19.73 (52-week low) after the news release of CEO resign and then rebounded quickly to reach intra-day high of $20.45, and finally closed with 0.30% gain. The volume of 69.41M is 33.58% more than the 30 day average of 51.96M. The MACD is still showing a bearish sign; however, MACD difference continued to converge. RSI (14) is at 34.02 with an increasing buying momentum. INTC currently trade below its 50-day and 200-day MV of $21.89 and $25.08.

    AAPL

    AAPL opened higher and closed strongly up with 7.21% gain, following yesterday's intra-day reversal at bottom of $505.75. The volume of 29.37M is slightly more than the 30 day average of 22.35M. The MACD (12, 26, 9) is still showing a bearish sign; however, the MACD difference is approaching 0 after today's strong rebound. The MACD could start to show a bullish sign if AAPL continues the buying momentum tomorrow. RSI (14) increased to 44.17 from below 30, indicating a strong buying momentum. AAPL is currently trading below its 50-day MV of $627.23 and 200-day MV of $592.12, which should be the next major resistance.

    Disclosure: I am long INTC, AAPL.

    Stocks: INTC, AAPL
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