5/7/2018 Technology stocks lead the way higher. Time to take profits on Apple (AAPL)?

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Fun Fact #43

Warren Buffett still plays Ping-Pong!  He played against Bill Gates at Berkshire’s annual shareholder meeting today. Source. 

 

QQQ daily 5_7_2018.PNG

QQQ is running into overhead resistance. We will have to see if QQQ can push through this level tomorrow or if we pullback from here.

AAPL 5_7_2018

Apple is the largest component of QQQ, and it looks like it has found a temporary top.  It looks good to buy in the 177.5-182.5 zone, although I favor the high 170s since it offers a better risk to reward. 

BABA 5_7_2018.PNG

One more push, and BABA will be at 200 again! Unless you think we break out over 205, it’s probably a good idea to take partial or full profits near this price. 

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Published by bigfry

Hi, I’m Nathan. I’m currently a Junior at Boston University majoring in Finance and minoring in Piano Performance. I’ve always found the financial markets fascinating so I decided to start this blog to share my experiences with you. Outside of school and trading stocks, I enjoy teaching and playing piano, fishing, watching anime, and teaching/playing "Go," an ancient Chinese strategic board game. This blog will be dedicated to sharing my trading experience, what I learned from the books I’ve read, and commentary on the major indexes and other stocks.

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