What's going on moon gang, i hope that you're having an absolutely excellent day now, if you happen to be an apple investor, the recent action should be putting a big smile on your face. Things are definitely looking bullish in this video. I will be doing a technical analysis of apple stock, ticker symbol, aapl. I will be mapping out the key levels of support and resistance that will be in play for the remainder of the week.

But before i get into all that, if you enjoyed this video, don't forget to drop a like, and if you haven't already don't forget to join the moon gang by hitting the subscribe button. All of your support is truly appreciated. Alrighty then, let's roll, the tape apple kicked off the week by gaining 1.2 percent, which puts its stock just under 124 at this price level. That means that, thus far in the year, apple has gained an impressive 69, and this is the current technical situation that we are dealing with for those of you who are new to the channel.

Here's a quick recap from late july until september of this year, apple rallied from ninety dollars all the way up to the current all-time high of 138, and a lot of this was because of the excitement for the company's four for one stock split. Unfortunately, when the stock split actually went through, there was a pretty brutal sell-off all the way down to 103.. From there, the bull camp managed to push apple up to 125, and then the stock became trapped in this bull flag that eventually bottomed out at 107 and from there there was a small pop and the stock was range bound between 116 and 121. And after this weird bearish fake out, the stock has now retaken this trendline and thus far it's pretty solid.

As things currently stand, i am fully expecting apple to test the most recent relative high at 125 and if the bulls went here that would set up the relative high from late august at 129, then, depending on how things play out at this resistance, the stock could Either fill out this wedge or go up to the all-time high just below 138. on this time frame, the current trend is definitely bullish for march. Until now, apple has consistently been hitting higher lows and investors have been using all these dips as an opportunity to buy more shares of the company. As i mentioned, i'm fully expecting apple to hit 125 and most likely 129.

But if the stock is rejected at either of these levels of resistance or if this trend line gives way, the next support will come at 117 and past that we have 112 and if apple were to get here. I think it would be an excellent buying opportunity, as of now there really isn't too much going on in the rsi. I suppose there is a decent amount of room for it to run to either fill out this wedge or test the current all-time high to get a better idea of what might happen over the next couple days. Let's see what's going on in the four-hour chart before i hop into this chart, i wanted to quickly mention that the name of this charting software is tradingview and if you're curious about it, there's a link to a free 30-day trial.

In the description of this video. Anyway, from early september, until now, apple stock has been consolidating in the 20 range from 103 up to 123., we saw a bull flag, a bear flag, a bull flag. Then the stock was range bound and now we're finally seeing some action that could lead to a larger swing. Let's zoom in so things are a bit more clear after breaking out of this range apple has been battling it out at the bottom of this region of resistance, and thus far the bears have been holding strong at 1.24.

Clearly, there's quite a bit of supply at this price level, and on top of that we are now starting to see bearish divergence in the rsi. The price has essentially been consistent, but the rsi is dipping, which is a sign that the buyers are getting tired from here. I will be looking for the top of this range at 121 to hold, which would be followed by a push up into this region of resistance, and ideally this would be accompanied by a higher rsi, which would mark the end of this divergence. If you're already not invested in apple, i would definitely say to proceed with some caution, because this is a region of resistance.

The bears are holding strong at 124 and there is some divergence in the rsi. But with that being said, once the rsi cools off or if the bears lose the fight at 124, i am fully expected 125, which would then be followed by 129.. In the short term, i would highly recommend paying close attention to this divergence and the three price levels of 121, 124 and 125.. On more of a personal note, i am invested in apple and my cost basis is 117.

Even if the stock were to magically make a new all-time high tomorrow, i would not sell my shares because i'm fully planning on holding them for years to come as more of a short-term play, though i did mention in a previous apple video. I do have some call options: the strike price is 125, the expiration date is december 18th, and at the time that i'm filming this video, they are down almost 10, but i think things will turn around in the near future. Overall, things are looking pretty good for apple. I honestly believe it's just a matter of time before the stock hits a new all-time high.

In the short term, though, we're waiting to see what type of supply and demand there is in the region of resistance between 124 and 129, as things continue to develop, both fundamentally and technically, with apple i'll, make sure to keep you updated in future videos and also Keep you posted on how the options play works out so make sure you have. Your notifications turned on thanks for making it to this point in the video. I hope that you enjoyed it. I would love to know your thoughts on apple stock.

In a comment below, are you buying, selling or holding, and if you have any questions that you want me to answer in future videos, please feel free to leave those in a comment as well, if you're new to trading or, if you're, simply looking to open a New trading account there's a link to the weeble trading platform in the description of this video. If you sign up and make a deposit of 100, you will be awarded four free stocks, so it's definitely worthwhile to check out. If you enjoyed this video, don't forget to drop a like, and if you haven't already don't forget to join the moon gang by hitting the subscribe button. All that engagement really helps this channel out thanks for watching and until next time.

Best of luck in the markets.