Let’s compare the daily and weekly charts of Apple (AAPL). The apple isn’t falling from the tree. (November 12, 2014)
Here’s the weekly chart of Apple (NASDAQ:AAPL ). I think this stock was a huge reason why the NASDAQ Composite was up so much today. The weekly chart shows the stock walking along the upper Bollinger Band. We’ll look at the daily chart in a second but you almost wish the stock would rest a little bit longer or would just pull back to offer a better entry, but it just doesn’t do that.
Not every move is the same but on this move here you didn’t really get much of a chance. Once the stock broke out you didn’t get much of a pull back in order to get in at a feel good price; instead you’re kind of chasing. Back here same thing, once the stock moved out it just sprinted higher and so now the stock, we can say, broke at 105.00, and it’s just continuing to move.
You look at the daily chart and you can see how the stock was really squeezing, broke out to the upside, and then has broken out again today. Volume was lower than average, but you look at all these spiky days here and the average is ultimately going to be dropped down even more. It’s really due to these big days on last month’s fiasco. But, much higher volume than the past several days, you can see since here, since the 4th.
So the stocks moving higher. Frankly if you’re trading maybe you’re going to find something else to trade, but if you’re just looking to own the stock, I think you can buy it right here. We are going into the “i” holiday shopping season and this is a chart that works. I think you can buy Apple (NASDAQ:AAPL ). Any pull backs, you go ahead and buy Apple (NASDAQ:AAPL ).
Free Chart