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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
My company:
Optionity
My blog:
Optionity - specialized in Options Trading
  • Optionity Quick Report 11/20/2012 0 comments
    Nov 20, 2012 6:08 PM | about stocks: AAPL, INTC

    INTC

    INTC opened low and closed with a hefty loss of 3.64% after hitting intra-day low of $19.35 (new 52-week low). Potential causes: the news of CEO resignation and UBS downgrade. The volume of 85.72M is 63.25% more than the 30 day average of 52.51M. The MACD is still showing a bearish sign and MACD diverged again. RSI (14) is at 27.26, in the over-sold territory, with an increasing selling momentum. INTC currently trade below its 50-day and 200-day MV of $21.81 and $25.04.

    AAPL

    AAPL opened higher and closed slightly lower with 0.85% loss following the two day strong rally. The volume of 22.94M is slightly more than the 30 day average of 22.89M. The MACD (12, 26, 9) is reversing and showing a bullish sign today. RSI (14) increased to 42.73, indicating an increasing buying momentum. AAPL is currently trading below its 50-day MV of $624.90 and 200-day MV of $592.65, which should be the next major resistance.

    Disclosure: I am long AAPL, INTC.

    Themes: Technical Analysis Stocks: AAPL, INTC
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