Tuesday, June 22, 2010

Apple Inc. (AAPL) - Inside Day


Today Apple Inc. (AAPL) put in an inside day. An inside day occurs when today's low is higher than the previous day's low and today's high is less than the previous day's high. What I like about these inside days is that they sometimes trigger a large move the following day which is ideal for short-term trading.

Being that Apple Inc. is such a strong stock, I would much rather trade a breakout to the upside than to short a downside break. 

Today AAPL once again demonstrated its relative strength and its ability to buck the trend of the stock market. Many of the indices were down over 1%  today but AAPL closed up 1.36%  from yesterday's close. I'll be watching this stock closely tomorrow. 

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