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5 Breakout Trades for the Final Stretch of 2013

Apple

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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SYM TRADE IT LAST %CHG
AAPL $125.01 0.00%
APC $89.66 0.00%
GE $26.81 0.00%
HSBC $48.25 0.00%
SRCL $132.80 0.00%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

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