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Big Swing Trade Ideas for July 28: Apple, Goldcorp, Tower Group

NEW YORK (TheStreet) -- Today's top swing picks are Apple (AAPL - Get Report), Goldcorp (GG) and Tower Group (TWGP).

1. First, let look Apple, the mega-computer company.

Apple traded up 0.66% on Friday, closing at $97.67.

  • Friday's range: $96.64 - $97.84
  • 52-week range: $62.89 - $97.88
  • Friday's volume: 43,533,519
  • Three-month average volume: 61,167,300

Apple is a great stock to swing trade. It has great volume and moves a lot.

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Last week, Apple reported positive earnings, and as a result, the stock continues to rise. The day after the earnings report, the chart formed a doji gap up, which is known as a trader's best friend.

The sentiment is clear that when a doji gap up appears -- a doji shows a struggle between the bulls and bears -- the gap up shows the winner, and in this case, the bulls won.

Following the doji gap up, Friday's candlestick was a bullish engulfing signal, which also implies that the stock will continue to rise today.

The stock will likely reach the $100 level in the near future. Look for an entry anywhere above the t-line, which is at $95.99.

I'd set my stop at Friday's low of $96.64, maybe a few pennies below that. Target the $100 level to start, and then add to the position on the dips. The next targets are $104, $108 and $110.

Trading Apple is as safe as the computer the company has created. Stay long until you see a confirmed sell signal or a close below the t-line.

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AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%
TSLA $241.46 0.00%
YHOO $30.96 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

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