Stock Trading Ideas For Friday - AAPL, FCX

Chart courtesy of stockcharts ( click to enlarge )

Freeport McMoran (FCX) shares closed at 29.40 on Thursday. The price is now within the Bollinger band and is sitting near the 20 day moving average. It looks like moving into consolidation phase after the recent decline. The MACD indicator is above its signal line and is indicating further strength. In addition, the ADX is increasing and is near 20 level which shows a strong trend is developing. The RSI indicator is moving up above 50 and the +DI is greater than the -DI by a great margin, indicating a Bullish trend. The stock is currently facing resistance around 31.45. Fresh long should be made only when the stock moves above this resistance level.

Chart courtesy of stockcharts ( click to enlarge )

Apple (AAPL) - Looking at the technical daily chart of Apple there appears to be marginal downside risk from prevailing levels. The short-term trend is bullish and a move to the Rs 100-103 range appears likely. The stock seems to have completed the recent pull back. The 20 day moving average is showing a positive gradient and is rising since the beginning of February. This is a bullish sign. The Bollinger is also showing a slightly upward channel and the stock looks to be moving towards the upper part of the Bollinger bands. A move above 103.60 would confirm that the stock has commenced the next phase of an upward move.

Disclaimer: Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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