What's going on moon gang, i hope you're having an awesome day. My name is matt and in this video i will be discussing the two trillion dollar technology. Titan apple. I will be doing a technical analysis of apple stocks daily chart and four hour chart, but first i'll quickly be covering an important announcement related to the company before i get into the fun stuff.

If you haven't already, you can join the moon gang by subscribing to the channel. In addition to providing useful technical analysis, my goal is to hit 5 000 subscribers by the end of this year and your help with that would be truly appreciated. I would also love to know your price predictions on apple stock, so feel free to post a comment below i promise to respond to all of you now with that out of the way, let's get started to kick things off i'll cover the recent announcement related to Apple and then i'll dive into the technical analysis on tuesday october 6th apple officially announced the iphone 12 event. Apple officially announced its highly anticipated iphone 12 event for october 13th.

The iphone 12 announcement event will be completely virtual and streamed directly from apple park. Apple is teasing the event with the high speed tag light the high speed tagline is a clear hint at the iphone 12 and its expected 5g connectivity and the a14 processor. The circular rings also resemble the siri interface amid rumors of a smaller homepod. What to expect at the october event, we expect the primary focus to be on the iphone 12.

Lineup apple is expected to unveil four new iphone 12 models this year. The differentiating factor between these iphone 12 models will be the camera technology beyond the iphone 12. There are other expectations, other possibilities for the event include apple's airpods studio over ear, headphones air tag, item trackers, a new apple tv and siri remote, and news about the apple silicon transition for the mac. I wanted to quickly bring this to your attention, because this event could easily serve as a catalyst to apple stock.

Many investors are expecting the iphone 12 to go on sale at the end of october, because this would fit the same pattern as previous years, and many analysts who have been tracking the supply chain are saying. Production is way up, which means apple is expecting a considerable amount of demand if you're an investor or planning on becoming one. I would highly recommend paying attention to what comes out of this event, but for now, let's switch over to the charts. This is the daily chart for apple which trades under the ticker aapl and at the time i'm making this video apple's stock price is sitting at 115.

This means that over the past three months, it's up 20 over the past six months, it's up 72 and from the start of 2020. Until now, it's up 56 and as a quick fun fact to give you a better idea about apple's size. The revenue in the year 2019 was 260 billion dollars from mid-march until the start of september apple stock was on an incredible tear. It even made a new all-time high, just below 138 dollars.

Unfortunately, apple stock did not do the best in the month of september and at one point it was down 24 percent from its all-time high, but in the month of october it's now only down three percent. From march. Until now, the stock has consistently been putting in higher lows and the same could have been said about higher highs up until the start of september, but now we've officially put in lower highs now this isn't necessarily bearish, but it's also not bullish. If you're in the bull camp, you want to see the stock get above this recent high at 120, and you definitely don't want the bears to push the stock below 103 at the start of september.

Apple stock was essentially range bound in between 112 and 119 and then at the end of september, it became range bound in between 105 and 112 and now it's in an even tighter range in between 112 and 117. Clearly, the stock is consolidating, tighter and tighter, which means its next big move could be just around the corner. In fact, it could happen as early as the iphone 12 event on october 13th if the stock were to test and break above this previous resistance at 119 dollars. That would then set up a test of 129 and, of course, if the bull camp can push the stock above that they would then be battling it out with the bulls at the all-time high based on the most recent close.

The first resistance would be a gain of three percent. The next resistance would be a gain of 12 percent and the all-time high, which would be the third resistance, would be a gain of 20 percent and on the flip side, in terms of support, the first one is very close by at 112.. This has recently served as support resistance support and even an area of consolidation. This particular area has become incredibly important and i would definitely recommend paying attention to it if the bears can push the stock below this.

I would then look for a bounce off of this upward trend line. In this scenario, apple stock would still be making a higher low, which would mean that the bull thesis is still viable. I personally wouldn't start worrying until the stock gets to the region in between 103 and the key psychological level of 100, because that could mark a new lower low. Now the stock could break either way.

But if i were to bet which i am because i own apple stock, i would bet that the iphone 12 event will push the stock above this resistance at 119, which would then set up a test of 129.. Before i switch over to the 4-hour chart, you should also know that apple's next earnings report is on october 29th, which is another event that could prove to be a catalyst for the stock. Here is a more detailed look at what's going on with apple stock from september 4th until the 25th the stock was caught in this downward channel, which is also referred to as a bull flag. This technical structure is called a bull flag because it commonly breaks upward, which is exactly what happened on this third attempt from september 25th until october 1st, the stock was in this rising wedge and these commonly break downward, which is exactly what happened and now, as i Mentioned before the stock appears to be range bound between 112 and 117, this time frame highlights how truly important this region at 112 really is.

It recently served as support it marked this breakout and previous resistance, and in early september it was also support. If this previous test officially marks a bounce, i would recommend paying attention to how the stock reacts to the previous high at 118, which is also very close to this trendline hit just below 119., with respect to this time frame. If the stock can get above this region of resistance, we would then be on our way to testing the start of this bull flag at 123 dollars on more of a bearish note. If these bounces continue to get smaller and smaller and the stock cracks below this.

Incredibly important support at 112. I would then recommend paying attention to see how the stock reacts to this trend line, which could potentially align with this previous major low at 103. As things currently stand, apple stock is trading sideways. It's consolidating in a smaller and smaller range.

In the world of stocks, it's fairly common for periods of expansion to be followed by periods of contraction, and vice versa. This means that i'm expecting a large move in the near future, and i have my fingers crossed that it's a bullish upswing. It would be awesome if the stock could get above the resistance at 129. until the stock breaks one way or the other.

I would pay attention to these levels of supply and demand, and i would also highly recommend paying attention to how the stock reacts to the iphone 12 event, as things continue to develop i'll make sure to keep you updated in future videos. So make sure you have your notifications turned on in the near term, i'm expecting some notable moves in apple's stock price. The iphone 12 event is set to take place on october 13th and apple's next earnings report will be at the end of the month. On october 29th, both of these events could easily prompt the stock to move in one direction or the other so be prepared in more of a medium to long-term view, i am bullish on apple stock.

I believe that the iphone 12 will prove to be surprisingly dominant, because a large portion of apple's user base is due for an upgrade. I also really like what the company is doing with apple one they're bundled services. I fully expect considerable growth in this particular market segment, but with that being said, these are just my personal thoughts and i'm not a financial advisor so make sure to do your own research. I would love to know your thoughts on apple stock in a comment below and also feel free to post any suggestions or recommendations for what i should cover next, if you are interested in a free 30-day trial of my charting software or if you're looking for a Group of active traders who talk about this type of stuff on a daily basis.

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