Wednesday, 12 September 2012

AAPL and AMD opportunities to profit

 AAPL is trying to make a break of 665$ resistance during the new iPhone 5 presentation. I think it can visit 677$ as a third time to retest the 680$ area. Live updates like this one are available only to members and my clients but wanted everyone to take a look at my work during US market hours. I would use 655$ support as a stop as this upward turn in AAPL maybe the start of a new rise towards 700$. Concluding  I'm upward biased with 655$ my stop level and target at least 677$. Confirmation of my view is to break 669$.

On the other hand AMD is a stock not so popular as AAPL but might have a very worthwhile price movement soon. The sideways overlapping move is clearly corrective after an impulsive move from under 2$ to above 10$. Prices have bounced right up when they touched my support line connecting 2 important lows. I believe that a bottom might be in place and that it is time for this stock to turn again upwards. One can wait for 5 waves upwards to complete and then enter, or can enter now with a stop near 3,40$ lows. I believe that if this stop is not hit, the stock could reach 4,30$ soon and start a new impulsive upward move.

Thank you for taking the time to read my thoughts. For any question don't hesitate to contact me.

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