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Apple, Peloton, and Roku Shrug Off The Selloff – Tap Here To Know!

When we see an intense selloff like the one on Monday, you can bet institutional money is behind the action.

Retail traders simply don’t have the sap to cause markets to fall that sharply.

On Monday, institutions show their hand by unveiling which stocks they are hesitant to sell.

First up is Apple.

Note how this stock stops falling with it reached its bullish trend line.

Now glance at that green candle on a very red day.

Moreover, it’s often been said that Apple is stock that should be owned rather than traded.

Since striking its March lows, Apple has been on a bullish trajectory.  From the split-adjusted March 23rd low of $55, the stock more than made twice as much, closing at $134 per share on September 1.

When a stock oversteps the upper barrier of a bull channel, that’s one signal that it’s overbought.

Apple also receives an overbought signal from its relative strength index indicator or RSI. Now that the stock cooled off, Apple’s RSI is neutral territory.

Moreover, another interesting point is the way Apple’s volume has pulled back along with the stock.

It seems a good sign because it indicates that institutional buyers are reluctant to sell Apple.

Next up is Peloton.

On a day when most stocks we’re breaking bad, Peloton busted out of the top of its bull channel dramatically to reach an all-time high.

Regular visitors to Ponsi Charts were not shocked.

Peloton is up 78% since Ponsi Charts recommended the stock in June.

Peloton just broke out of an ascending triangle formation. (Black dotted lines shows.) This bullish pattern projects the stock to the $70 area.

Furthermore, Roku, which jumps over 15% on news that the streaming media access provider had reached a deal with NBC Universal, a subsidiary of Comcast.

On a day when maximum stocks were crush, Roku manages to close at an all-time high on a heavy volume.

On August 6, a day when Roku closed at $165.