NEW YORK (TheStreet) -- Each of the popular momentum stocks experienced significant volatility following their third-quarter earnings reports, released between Oct. 15 and Nov. 5. Only Apple (AAPL) continued to have the technical profile of a momentum stock.
Apple continued to set all-time intraday highs almost daily, including $111.43 on Wednesday, up 39% year to date. For its part, Tesla Motors (TSLA) has outperformed -- up 66% year to date -- but is down 14% from its all-time intraday high set at $291.42 on Sept. 4.
Netflix (NFLX) is up just 4% year to date and corrected 32% from an all-time intraday high at $489.29 on Sept. 9 to as low as $331.00 on Oct. 16, well below its 200-day simple moving average at $416.00.
Here are some trading strategies for these popular momentum stocks.
Apple ($111.25) traded as low as $95.18 on Oct. 15, and after beating analysts estimates Oct. 20 gapped above its 50-day simple moving average at $100.07 on Oct. 21. That propelled the stock to an all-time intraday high at $111.43 on Nov. 12, up 17% on this latest leg of the stock's momentum run-up.
As a pure momentum stock, Apple can continue to rise without a specific price target. The weekly chart for Apple is positive but overbought. When this is the case, investors should employ a sell stop below the key weekly moving average, which is rising at $104.93.