AAPL doomed to fill the gap, and other stocks worth looking at
Apple’s stock is acting very sluggish post-breakout after its huge earnings beat. Possible explanations? My intuition tells me that after an enormous and probably tiresome run in the last quarter, this stock is ready to take a rest. The rest is so important in fact, that a huge earnings beat did not even restart its tremendous climb towards 700.
I’m sensing lower prices, at least until around 560ish, to fill the gap.
This one has been on my list for quite a bit of time now. It’s been consolidating for about a 4 weeks in a very tight $5 dollar range. It’s been holding up the support lines and the 50 day. It broke out to new highs today and restarting it’s upward trend after a lengthy rest.
LULU has almost an identical pattern to Nike, today it broke out on above average volume. It’s looking a little overbought, but I’m going to go long on it as well as NKE.
Strong stock after breaking out from earnings.
So there’s my list, I have AAPL short and NKE, LULU and CATM long.