This Day On The Street
Continue to site
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

5 Must-See Charts of Big Trades to Take This Week


Apple (AAPL - Get Report) has been the one exception to buying pressure this week. The $430 billion tech giant got shellacked after announcing its new iPhone models on Tuesday, down more than 5% in yesterday's session as sellers logjammed orders into the market. But risk takers could have a big buying opportunity on their hands this week.

In the short-term, Apple was forming a double top, a bearish pattern formed by two swing highs that stall out at approximately the same price level. The sell signal happened quickly - it triggered when AAPL gapped down below $490 yesterday morning, giving few traders a chance to act. But what's important is that Apple almost immediately found its downside price objective at $468, a level right above a key support level at $460. In other words, this giant hated stock looks likely to bounce here.

Whenever you're looking at any technical price pattern, it's critical to think in terms of buyers and sellers. Triangles, double tops, and other price pattern names are a good quick way to explain what's going on in this stock, but they're not the reason it's tradable -- instead, it all comes down to supply and demand for shares.

That support line at $460, for example, is a price where there is an excess of demand for shares; in other words, it's a place where buyers have been more eager step in and buy shares at lower levels than sellers have been sell. If AAPL holds $460, then buying the bounce becomes a much lower risk proposition. Just keep a tight stop in place.
3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
WAG $81.65 2.05%
AAPL $94.02 0.00%
BRK.A $190,820.00 0.00%
CHL $53.76 0.00%
GE $28.54 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs