Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Tuesday, the 29th of October.
It was both good news and bad news yesterday for Apple (NASDAQ:AAPL). Apple beat earnings, but it was not enough for some analysts who fretted over the fact that the Apple’s margins had shrunk from previous quarters. I say, you can’t please everyone all the time and maybe analysts were putting too fine a point on this. The trend in Apple is higher technically and I'm still looking for a move to the $580, or possibly the $600 level.
Last month Apple closed out at $476.53, and is up over 10% for the month of October. I still believe Apple is headed higher and that belief is backed up with the Trade Triangle technology. All systems are go for this stock.
Amazon Powers Ahead
Amazon (NASDAQ:AMZN) reported super earnings last Friday and is dramatically higher from last month’s close of $312.92. All of the Trade Triangles are positive on this stock and I expect Amazon to grind its way higher to the $400 level. I'm expecting a very bullish November and December for Amazon.
United Parcel Service
As Amazon goes, so goes United Parcel Service (NYSE:UPS). When your local UPS brown truck arrives, it's likely full of Amazon and other online retail sellers' packages. The mighty Amazon utilizes several venues for delivering goods to their customers, and UPS happens to be one of them. They also use FedEx (NYSE:FDX), which I like from the long side with an upside target of $160, and the United States Postal Service, which is not trade-able. Technically, I like UPS and I'm looking for this stock to trade up to the $110 level.
Talisman Energy On The Move
Recently we have had some questions from members on the stock price of Talisman Energy (NYSE:TLM). Looking at the stock, one can quickly see why. Talisman Energy closed out the month of September at $11.51 and is presently trading around the $12.45 to $12.50 level. The major trend for Talisman Energy remains positive, with all of the Trade Triangles green. I'm looking for this stock to trade as high as $20 a share.
Please feel free to leave your comments, feedback, and any questions below.
Have a great trading day,
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