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A Technical Look At Apple, Priceline.com And Siemens

ByDr. Duru
Published 06/26/2013, 02:22 PM
  • Apple
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 where volume surged just as the stock broke very critical support formed by the May low.
Apple, Inc.
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.
  • Priceline.com
I have not paid enough attention to Priceline.com (PCLN) since its big earnings pop on November 2. 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 200-DMA 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.

Priceline.com
  • Siemens Atkins
Siemens (SI) remains my favorite European stock. The euro has been creeping upward
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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 50-DMA 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.
Siemens
If the breakout does not happen this week for SI, I will have to pull in my horses and await a new buying opportunity.

Be careful out there!

charts: FreeStockCharts.com

Full disclosure: long AAPL shares and put spread, long SI calls
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