I've got your back fellow swing traders. Trading Apple, and making a profit from it, is like a badge of honor. Call your significant other up and tell them you traded Regular Therapeutics, and they will fall asleep before you even get to the profit talk. But Apple, now everybody wants to hear about an Apple trade.
Any time I look to make a swing trade, I search for a stock with a catalyst. AAPL has that, blowing the roof off earnings two days ago and gapping up on heavy volume.
Price is currently at $118.90, about a dollar away from the all time high. That is the key level. The last time AAPL broke out from an old high, back in mid-October, the stock went on a 15 point run in just under a month and a half.
History tends to repeat itself and I would not be surprised to see a similar run once AAPL clears the recent high. The $120 level is the buypoint. This entry level provides low risk and high reward, which is the most important of our 23 laws of trading.
So there you have it. The common sense approach to trading Apple.
f you would like to learn more about how I trade, receive my nightly focus list with market analysis,setups and trade alerts, sign up for a 14 day free trial at BullsonWallStreet.com.
If you like this article, follow me on twitter