This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Huge Stocks Ready to Slingshot Higher

Apple

We'll start off today by taking a refreshed look at Apple (AAPL). In spite of all the arguments taking place over this stock this summer, Apple has had a truly stellar run in 2012. So far this year, it has rallied more than 55%, increasing in market value by hundreds of billions of dollars.

That sort of ascent has obviously caught investors' attention, and left people wondering where it's going next. So here's the big question: Should you own Apple right now?

The short answer is yes. The last time we checked in on Apple was at the end of July, after the firm's earnings call left investors wondering if it was time to sell. As expected, it wasn't; shares of the firm bounced off of trend line support like clockwork, making their way through two minor resistance levels (now support levels S1 and S2 on the chart above), before ultimately coming up to test ultimate resistance at $640.

>>3 Internet Stocks Ready to Move Higher

There's no two ways about it: $640 is make-or-break time for AAPL. The last time shares attempted to push through that level, bids got overwhelmed by sellers' gains-taking. This time, investor sentiment may have changed enough to give investors the breakout they're looking for.

If you already own Apple, I'd recommend holding out to see if shares can pull of the breakout above $640 -- and if you don't own shares, the time to buy is immediately after the breakout. There are enough support levels under foot right now to justify holding onto shares.

Apple, one of David Einhorn's Greenlight Capital holdings, was also featured recently in "5 Stocks Poised for Breakout."

2 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs