Market: ($AAPL); ($GOOG)
Chart:
Chart Analysis:
Intraday traders have utilized several strategies to day trade stocks such as Apple and with the widespread anticipation for the new iPhone 5, Apple ($AAPL) shares reacted positively to the news and release of both the iPhone 5 and iOS6. Apple’s new phone incorporated brand new in-house mapping technology as opposed to relying on the popular Google ($GOOG) map service offered through the previous iPhone operating systems. Apple maps were launched with state of the art turn by turn navigation as well as 3D maps and certainly aimed at taking market share away from Google. However, a week after the release of the new map service, it became apparent that there were some issues with the maps and Google ($GOOG) shares once again shined. As we have all seen the images of the Apple map of the highway driving right over the Hoover Dam, Apple shares have taken a dive in the past week. Intraday traders seeking to capitalize on trading opportunities by these two tech giants can utilize a spread indicator of the two instruments plotted by the black line in the second panel. Traders can also customize their market analysis with built-in drawing tools and text features in order to notate key news events such as we have done with this Daily timeframe NinjaTrader chart. Based on this analysis, where do you see these two stocks heading? Has $AAPL reached an area of support or is $GOOG the better buy? Your comments are welcome and as always, our NinjaTrader chart was built with FREE end of day data offered through Kinetick.
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