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*** These days I post my charts/thoughts on http://www.stocktwits.com under the same user name BreakoutTrader *** "Charts are worth a million words." - Ralph Acampora "Having learned what folly I was capable of, I closed that particular incident." - Reminiscences of a Stock... More
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  • AAPL: Waiting And Be Patient

    In the StockTalk posted Monday 4/16 before market opened,

    I pointed out that AAPL stock price faced the first real serious

    challenge since the uptrend started on 12/5/2011. I must

    admit that although I did expect AAPL to go down, but

    certainly did not expect its price to drop so quickly. As of 4/23

    close, it is down 5.5% since close of 4/13 vs S&P 500 which

    is down 1.3%.

    The following daily chart shows AAPL has a indecisive

    doji pattern on 4/23 and is also near support.

    (click to enlarge)20120423_AAPL_Daily

    AAPL will report earnings after market close today (4/24).

    So one of the most anticipated earnings announcement is

    less that 12 hours away, and the earnings results may

    determine the direction of AAPL's next move. Good luck to

    every bulls and bears :-)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: I may initiate a volatility based options position in the next 72 hours.

    Tags: AAPL
    Apr 24 8:56 AM | Link | 2 Comments
  • AMZN Amazon: On The Move
    AMZN had been in a trading range between $175 and $195 area
    since mid-January. It broke out of that trading range on 3/26 with
    above average volume and continued to move up with increasing
    volume until today (3/28). It pulled back with less volume today in
    a down market day and closed at 201.16.

    The following weekly chart shows, although the week is not over
    yet, first sign of a possible uptrend as identified by the last green
    bar in the middle pane. AMZN has also started outperforming
    market index S&P 500 (green dots on the lower pane) in strength
    since last week. This broke the underperforming relative strength
    trend (red dots on lower pane) since the week of 10/24/2011.

    AMZN_20120328_Weekly

    The following daily chart shows a channel AMZN may follow to
    move higher. It was near the upper channel line yesterday and closed today near the middle channel line. On a daily basis, it
    appears that AMZN has broken out of a 3-month trading range
    sinc January. Momentum and volatility are also on the rise.
    Barring any negative news events and general market weakness,
    AMZN could continue its move higher.

    AMZN_20120328_Daily

    Disclosure: I am long AMZN.

    Tags: AMZN
    Mar 29 7:39 AM | Link | Comment!
  • NKE Nike Inc: Near Support

    NKE has been in an uptrend since it bounced off the $78 to
    $79 area in August 2011. It closed at $107.88 on 3/27.

    The following daily chart shows it is currently near the $107
    support area which was the resistance area in February. It
    is also at the bottom of an uptrend channel started on 8/9/11.

    Watch NKE to see if it can break above recent $109 resistance
    area.

    NKE_20120327_Daily

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in NKE over the next 72 hours.

    Tags: NKE
    Mar 28 8:27 AM | Link | Comment!
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  • AAPL: Melt up to come, similar to earlier 2012 ? If it can close the week with positive tone http://bit.ly/NpdUnN
    Aug 16, 2012
  • AAPL: Last hour relative strength weaker than market - watch out ...
    Aug 14, 2012
  • QCOM Daily Chart: 80% chance reaching $67.50 by October http://bit.ly/RLgl96
    Aug 12, 2012
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