NEW YORK (TheStreet) -- Major stock indexes continue to set all-time highs, but among five popular momentum stocks, only Apple (AAPL) has both a year-to-date gain and a gain since Nov.12 when it was noted that momentum characteristics were changing.
Tesla Motors (TSLA) is still up 52% year to date versus Apple's gain of 45%, but Tesla is down 8.6% since Nov.12 while Apple is up 4% since then.
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Here's how to trade these stocks given the continued changing momentum characteristics.
Apple ($115.93) traded at an all-time high at $119.75 on Nov. 25 for a gain of 26% since trading as low as $95.18 on Oct.15. The stock is well above its 50-day and 200-day simple moving averages of $106.77 and $93.03. The weekly chart profile is positive but overbought with its key weekly moving average at $111.15.
Investors looking to buy Apple should enter a good 'til canceled limit order to buy on weakness at a key technical level of $102.40. Investors looking to book profits should enter a good 'til canceled limit order to sell on strength at another key technical level of $126.
Amazon ($316.50) traded as low as $284 on Oct.24, and then rebounded 20% to as high as $341.26 on Nov.28. Weakness this week has the stock below its 200-day SMA at $327.21. The weekly chart stays positive given a close on Friday above its key weekly moving average at $320.60.
Investors looking to buy Amazon should enter a good 'til canceled limit order to buy on weakness at the stock's 200-week SMA of $263.84. Investors looking to book profits should enter a good 'til canceled limit order to sell on strength at key technical levels of $344.35 and $372.35.
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