Stock charts are our tool for locating great trades in the markets before the general public, talking heads in the media and so many others. Reading the charts right will enable you to trade stocks with a consistently higher percentage for winning compared to any other means of analysis. Charts will also allow you to eliminate all emotion and noise, giving you a clear view on the stocks future direction.
Now let's take a look at the Apple Inc.(NASDAQ:AAPL) charts and see what it is telling us...
September will bring a new Iphone launch by Apple Inc. (NASDAQ:AAPL). Now with all this AAPL pumping on CNBC and other financial programs, it makes me start to get interested on the opposite side of the trade, the short side. Just 2 years ago we touched an all time high on Apple, now we are making new highs again today. This recent rally has spanned the period of 20 weeks. By any means, the charts are indicated that an opportunity for making money on the short (downside) is in the cards. I will be waiting and ready for this trade to present itself next week. Yes AAPL can still go higher, but the near-term high will be around the corner. I can see Apple Inc. (NASDAQ:AAPL) going back to $90 a share on this classic buy the rumor sell the news trade, which is clear as day when looking at the chart!
Kristof De Block