Picking Cinder Blocks over Genius Bars With These Charts

• Posted by Greg Harmon
• on April 23rd, 2013

The Apple Earnings report is all anyone can think about Tuesday night. But there are two other companies that sell phones and tablets…..along with about 10,000 other things that have charts that are about to break out in their upends again. Sure there are no genius bars there, in fact there are probably not any geniuses either. But money is money regardless of the decor.

Costco Wholesale, $COST

Costco Wholesale, $COST, continues to trend higher from the lows in October and November. The latest bounce off of the 50 day Simple Moving Average (SMA) is now approaching resistance at 108. A move over that has a Measured Move higher to 110. Notice that it has support from a Moving Average Convergence Divergence indicator (MACD) that is curling up and a Relative Strength Index (RSI) that is bullish and rising.

Wal-Mart, $WMT

Wal-Mart, $WMT, has been consolidating in the Handle of a Cup and Handle formation until Tuesday. Moving higher the target on the break above 79.30 is a move to 101.30. It also has a rising and bullish RSI. The MACD is leveling after a pullback. Wait for the move to confirm over 79.30.

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