On Friday, we looked at a Keltner Channel chart of Mastercard Inc. and noted that it was on a pullback from being overbought.
Today’s chart is for Apple, Inc. (NYSE: AAPL).
Now, the Daily Price Chart below shows that AAPL has been making a series of 52-Week Highs since mid-October.
For a stock to hit a new 52-Week High, we know it has to be in a very powerful uptrend.
Stocks in a price uptrend, as we know, do not advance in a straight line — there are always price retracements along the way.
Since its strong advance mid-October, AAPL has experienced multiple pullbacks.
Traders can get a lower risk entry point after a 3 to 5% price retracement as the stock normally resumes its price up trend after such retracements.
We’ll be sure to continue following Apple Inc. as it climbs to new heights, and watching for price retracements.
Maximizing Our Profit Potential
Additionally, we’d like to talk about how a previous Chart of the Day stock has done…
On January 29th, we highlighted Coca Cola Co. (NYSE: KO), noting that KO had been making a series of higher highs and higher lows since November.
If you happened to have purchased KO shares on that day, you’d already be up 2.82%.
But… if you had purchased the right option contract, you would be up 46.29% in less than a week’s time!
That’s the power of options.
I developed my premium research trading and training service, PowerTrend Options, for the express purpose of finding these life-changing chances.
Not by trading with my gut, but by trading by the numbers — pure technical analysis. My PowerTrend “X-Ray” system has seen me through more than 30 years of successful trading and competing. It built the life my family gets to live now.
In fact, that’s the whole thesis of that options research service — the right trade has the power to set you on the path to living the life of your dreams.
But we know that some people like to walk before they run… and so we designed a class just for them, called the Thunderbird Options Course. Complete with syllabus, videos, and quizzes. Check out the details if you haven’t yet!
Editor, Chart Of The Day