Best of StockTwits Charts: Is The Apple Bear Trend Finally Over?

StockTwits

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:

1. Apple (AAPL) – Is Apple’s bear run finally over?

We get some short term evidence from @swingtradealert, shows a bull flag forming on the hourly Apple chart. The stock’s downtrend may finally be over as it rallied from $390 in late June to $461.

Short-term traders will be watching for the price to rise above the upper descending trend line before taking a position. If it fails and falls below the descending support line, all bets are off.

Longer term traders might be looking at this as one more hurdle in establishing any new and more enduring uptrend.

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(See @swingtradealert’s original StockTwits post here.)

2. Freeport-McMoRan Copper & Gold (FCX) - Michael Batnick posted the following chart to StockTwits showing FCX hitting its descending support line in effect since the beginning of the year.

The stock rose nearly 5% yesterday and is rising above the line in today’s trade. This is a potential inflection for the stock and trend traders will be looking for it to hold the breakout.

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(See Michael Batnick’s original StockTwits post here.)

3. McKesson (MCK) – @stox4thewin posted this 30-minute chart of FCX that shows a well defined support level just below $123. This consolidation at the higher level shows that MCK is holding its recent spike higher well and breakout traders who are not already in will be looking for a move above this consolidation level to get on board.

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(See @stox4thewin’s original StockTwits post here.)

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