Every day, we’re focused on the most volatile stocks that are capable of pushing higher.
My process never changes.
And I’ve got my eye on a new stock today…
It’s building a perfect breakout level with a tight consolidation:
We see this breakout price action a lot in the market, but the part that makes it a trade is the strong momentum/story behind it.
We don’t want to trade every chart that has a breakout level… some of the moves won’t push higher.
Our job is to whittle down the list of possible breakouts to the strongest setups.
There’s one stock at the top of my list…
A CEO Switch
You already know this company.
Odds are it’s in your pocket right now…
It’s Apple (NASDAQ: AAPL), one of the most famous stocks in the world, worth around $4.6 trillion.
And something big just changed at the head of the table.
On September 1, Tim Cook stepped down as CEO after 15 years. John Ternus took over. Cook is now executive chairman of the board.
Ternus has been at Apple since 2001 and helped build the Apple Watch, AirPods, and Vision Pro. He ran hardware engineering for years before his recent promotion.
Traders liked the news … Apple just had its best day in five weeks due to the handoff.
The stock is up about 20% on the year as of September 2. It set a record near $340 in late July, slid back to support around $310, and now it’s pushing back toward the highs.
There’s also an incoming catalyst on the calendar. Apple’s next product event is September 9 (Ternus’s first as CEO), and analysts expect new iPhones, new Watches, and the company’s first folding phone.
There’s a new boss, with new products, just one week away.
AAPL Intraday
As I’m looking at this stock on September 2, the price is coiled under the highs from the day before, at $327.45.
If it breaks that level on strong volume, the 52-week highs from July become the target.
Here’s the alert I sent to traders on September 2, in the morning:
“AAPL – Watch over $327.45 (AAPL 9/18 $340 calls)”
This is a simple breakout trade.
- The earlier price action sets the breakout level.
- The stock consolidates below that level.
- Then it pushes to new highs.
In this instance, I’m waiting for the stock to break out before making the trade. As opposed to buying the dip early and waiting for the breakout.
This is just one of the strategies that I use to trade…
Leverage my entire process to take full advantage of the market’s strongest setups:
My 2-Day LIVE trading event on September 15 & 16
The volatility is picking up into the fall and winter months. Make sure you’re prepared to capitalize with my entire playbook of trade patterns.
Be good (and be good to others),
Ben Sturgill
*Past performance does not indicate future results. Not typical.
