Thursday, October 13, 2011

AAPL ( Apple Inc) - Watch This Stock Tomorrow

Apple Inc (AAPL) is one of my favorite stocks to trade mainly because it's so liquid and it is a leader of the NASDAQ due to its heavy weighting within the index. The reason I will be watching this stock tomorrow is because we now have an inside day. An inside day is simply a day that has a lower high and higher low compared to the previous day.

What I like about inside days is that they sometimes trigger a trending move. What I find interesting about today's setup is that today's range happens to be the smallest range in at least 10 days. .Small ranges give way to large ranges which is what a short term trader is looking for, after all we do need movement in order to make money. Volume was also relatively low today compared to recent days.

Tomorrow (Friday) I will be on the look out for a breakout in either direction.  I'm hoping for an unchanged  open and then a breakout. We'll see what happens. Today Apple Inc. (AAPL) closed at 408.43 which was up 6.24 or 1.55% from Wednesday's close.


Shahsam said...

Apple is already up in after hour trading (Google's effect) and there is the Earnings Report on Tuesday Evening.

So you predicting that it will go high or it will fall tomorrow?

Thanks for being so decisive.

Kevin said...

I am not predicting anything... I'm just giving the breakout levels based on the inside day.


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