The Weekend Stock Forecast: Watch These Trading Levels And Profit! $SPY,$WLT And $AAPL

Aug. 18, 2013 11:21 AM ETSPY, WLT, AAPL
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Contributor Since 2013

CEO and founder of I started 4 years ago with trading I went to some tough times but once I learned to understand the trading methodology the world changed for me.

What a week in the stock market it was. The $SPY made a nice bear flag last week and the 2nd part of the trading week we saw a nice breakdown. Now the $SPY pierced the daily 50 moving average on Friday and we saw some buyers come in the markets on Friday.

Now what will the $SPY do the coming week? We got 2 scenario's here, we can see some consolidation and a little bounce from the 50 moving average or we gap down on Monday or Tuesday and we see a flush. Now we still have some good support levels at the $163.00 and $160.00. If we come straight in this levels we can see a short term bounce.

Now there are still some strong names in the markets and they still can be played based on how the stock market will react.

I will watch $WLT the coming week, if we see some kind of a bounce in the spy we can see another bounce in Walter Energy. The daily chart is consolidating above the 50 and 20 moving average. If you want play $WLT to the upside look for resistance at $14.75 and $16.20. Stop loss will be any close below the 20 moving average.

Another strong name is $AAPL. I will look to short Apple at the next levels $520.00 and the major one will be around $553.75. $AAPL is very strong even in the weak market, so play this with a lower share size and keep a wider stop.

Kristof De Block

Trader @

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.