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5 Breakout Trades for the Final Stretch of 2013


Despite a shaky start to 2013, Apple ( AAPL) has been on a tear since the summer. I've been a fan of the stock for a while now too -- and I've still have a position in AAPL shares. After spending November in sideways-mode, AAPL looks ready to move higher again.

>>5 Big Trades for a Fed Taper

After moving up close to 20% off of September's swing low, Apple has been consolidating sideways in a rectangle pattern. The rectangle is a price setup that's formed by a horizontal resistance level above shares at $535, and another horizontal support level down at $510. The rectangle gets its name because it essentially "boxes in" shares. The high-probability trade comes when Apple exits its channel - a move through $535 is a buy signal.

Apple's relative strength, a measure of this stock's performance versus the broad market, has been on fire for the last six months. From a statistical standpoint, an uptrend in RS is a very good indication that shares will continue to do well in the medium-term.

I'm holding on from here.
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AAPL $94.99 0.00%
APC $37.50 0.70%
GE $28.28 0.00%
HSBC $31.93 0.95%
SRCL $106.03 0.00%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

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