DDD displayed what we call exhaustion volume yesterday. Significant spike in trading volume after a parabolic move. This is confirmed because it was also preceded by a weekly down trend. This chart pattern combo of price action and volume is one to print out and put in your trading plan.
Apple Inc.AAPL shares are falling — down over 2 percent at one point — on a day when most peers are in the green. Aside from chatter of a technical correction, the Goldman Sachs desk has shared some commentary on the stock.
The firm said it’s “getting questions on rollover” in Apple, adding that there are several factors that might be responsible for the price decline.
Today’s Water-Logged And Getting Wetter Stock: Apple (AAPL)
Editor’s Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer. Trade-Ideas LLC identified Apple ( AAPL) as a “water-logged and getting wetter” (weak stocks crossing below support with today’s range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Apple as such a stock due to the following factors:
AAPL has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $5.0 billion.
AAPL has traded 47.4 million shares today.
AAPL traded in a range 226.9% of the normal price range with a price range of $3.91.
AAPL traded below its daily resistance level (quality: 149 days, meaning that the stock is crossing a resistance level set by the last 149 calendar days. The resistance price is defined by the Price – $0.01 at the time of the signal).
Stocks matching the ‘Water-Logged and Getting Wetter’ criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility.