{"id":15620,"date":"2012-12-05T01:27:19","date_gmt":"2012-12-05T09:27:19","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=15620"},"modified":"2012-12-05T01:27:37","modified_gmt":"2012-12-05T09:27:37","slug":"chart-review-aapl-pcln-si","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/12\/05\/chart-review-aapl-pcln-si\/","title":{"rendered":"Chart Review: Apple Resistance; Priceline.com and Siemens Breakout"},"content":{"rendered":"

Apple (AAPL)<\/strong>
\nIn one month, Apple (AAPL) has gone absolutely nowhere while remaining under critical resistance at the 200-day moving average (DMA). In between, AAPL printed an impressive hammer which created a bottom in the stock right above the $500 level. The hammer pattern printed what now looks like a classic washout day of selling where volume surged just as the stock broke very critical support formed by the May low.<\/p>\n


\n
\"Apple's<\/a>
Apple's strong bounce runs into stiff resistance<\/figcaption><\/figure>
\n<\/center><\/p>\n

I interpreted the stall at resistance as an opportune time to finally buy puts (put spread). I actually managed to avoid puts during most of Apple’s slide into the bottom. But I consider myself now awakened to real downside risks. In the meantime, I am holding firm to my small handful of shares.<\/p>\n

Priceline.com (PCLN)<\/strong>
\nI have not paid enough attention to PCLN since its big earnings pop on November 2nd. If I had, I would have noticed the bullishness of the breakout above the previous downtrend line from all-time highs. I would have noticed how the subsequent pullback found support exactly at the former downtrend line. Well, I am now paying much closer attention as PCLN has broken out above its 200DMA for the second time in a month. After cratering to support from the 2012 breakout line, PCLN finally seems to be on the mend, ready to return to its stubbornly bullish ways.<\/p>\n


\n
\"priceline.com's<\/a>
priceline.com's recovery continues<\/figcaption><\/figure>
\n<\/center><\/p>\n

Siemens Atkins (SI)<\/strong>
\nSiemens (SI) remains my favorite European stock. The euro has been creeping upward<\/a> and Siemens has kept knocking on the upper bound of a three-month trading range. It is now closer than ever to a big breakout after printing a false breakdown below the 50DMA that ended in a hammer pattern puncturing through the lower-Bollinger Band. That move was a promising sign of a washout of sellers that can clear the way for an extended rally.<\/p>\n


\n
\"Siemens<\/a>
Siemens is itching for a breakout<\/figcaption><\/figure>
\nSource for charts: FreeStockCharts.com<\/strong>
\n<\/center><\/p>\n

If the breakout does not happen this week for SI, I will have to pull in my horses and await a new buying opportunity.<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long AAPL shares and put spread, long SI calls<\/p>\n","protected":false},"excerpt":{"rendered":"

Apple (AAPL) In one month, Apple (AAPL) has gone absolutely nowhere while remaining under critical resistance at the 200-day moving average (DMA). In between, AAPL printed an impressive hammer which created a bottom in the stock right above the $500 level. The hammer pattern printed what now looks like a classic washout day of selling … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[584,483,921,20,219,43,491,511,62,982,518],"tags":[250,534,956,957,577,576,1597,1039],"class_list":["post-15620","post","type-post","status-publish","format-standard","hentry","category-bollinger-band","category-breakdown","category-downtrend","category-forex","category-high-tech","category-industrial-sector","category-oversold","category-support","category-technical-analysis","category-trading-range","category-transportation","tag-aapl","tag-apple-inc","tag-pcln","tag-priceline-com","tag-si","tag-siemens-aktien","tag-technical-analysis","tag-travel"],"yoast_head":"\nChart Review: Apple Resistance; Priceline.com and Siemens Breakout - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/12\/05\/chart-review-aapl-pcln-si\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Review: Apple Resistance; Priceline.com and Siemens Breakout - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Apple (AAPL) In one month, Apple (AAPL) has gone absolutely nowhere while remaining under critical resistance at the 200-day moving average (DMA). 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