The StockTwits Charts Stream gets filled daily with thousands of stock charts created by the largest real-time trading community in the world. Below are a few notable ones for your perusal:
After falling from over $700 last September to under $390 in late June, Wall Street is finally giving Apple (AAPL) some love again.
Apple rose nearly 5% today after Carl Icahn announced that he’s taken a large position in the company. Apple shareholders are hoping that Icahn’s presence will have the same effect on Apple’s stock price as it did on Netflix and Herbalife.
1. The Icahn Spike: This first chart comes from the StockTwits Data stream. Apple surged nearly $10 just minutes after the news broke that Icahn took a position. Notice the huge volume increase in the minute by minute chart of Apple below. Huge money came in on the news.
2. Inverse Head & Shoulders Patttern: Factor Trading Co. CEO, Peter Brandt, posted this excellent chart to the StockTwits Blog Network showing the inverse head and shoulders pattern in Apple. This pattern is bullish and has major implications.
A break above above the $450 level last week confirmed the bottoming pattern. Apple has a history of critical head and shoulders reversal patterns as it formed a bearish one at the top in 2012 before falling to $390.
3. Fibonacci Levels: Kimble Charting Solutions’ Chris Kimble posted the chart below showing the Fibonacci resistance levels in Apple. Fibonacci levels often act as support or resistance areas and are of interest to many traders.
The stock rallied above its 23.6% level at $460 last week. Kimble points out that the 38.2% level is at $510, which is also near an unfilled gap. The $510 area may prove to be a key level in the coming days or weeks.
4. Return After Rising Above 200-Day MA: Apple crossed above its 200-day moving average today for the first time in nearly 10 months. Ryan Detrick, Senior Technical Strategist at Schaeffer’s Investment Research, posted this table showing the performance of Apple’s stock after it crosses its 200-day moving average. Ryan notes that the near-term performance is not that great, but its performance after one year is surprisingly good, up 44% on average.