Posted by Blain 29 December 2009

Momentum Plays – AAPL, BIDU, NFLX, CAR

Tech stocks Apple (AAPL), Baidu (BIDU), and Netflix (NFLX) are all showing very similar patterns. If the market can continue inching up these stocks should perform very well over the coming weeks.

I also have a chart of Avis Budget Group (CAR) which may be setting up a fresh bull flag. A good entry point may come with a break of $13.90.

AAPL 122809

BIDU 122809

NFLX 122809

CAR 122809

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Comments

  1. Posted by elkate on December 29, 2009 at 12:24 pm

    Make sure you look at CAR carefully since it's formng a double top with high previously at $14.14.

  2. Posted by Blain Reinkensmeyer on December 29, 2009 at 12:46 pm

    Yay very true. If you buy where I suggest with the next break through $13.90 my bet is that momentum will carry the stock through $14.14 and negate a double top formation altogether.

    On the flip side if the stock tops right here and does not go any higher you are still ok as no position was taken to begin with.