by Shane Ormond
On Feb 20, 2020
Shares of Groupon and Blue Apron tanked yesterday after their quarterly reports reignited skepticism about the companies’ “unconventional” business models. (And by “unconventional” I mean “doesn’t work.”)
Blue apron, groupon, e-trade, morgan Stanley
Blue apron, groupon
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!
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Editor, Chart Of The Day