What's going on moon gang, i hope you're having a great day in this video, i will be talking about the technology titan apple. I will briefly be covering the main announcements from the most recent apple event. One more thing which took place on november 10th, then i'll be doing a technical breakdown of apple stock, i'll, be laying out the key levels of support and resistance that you should keep in mind because i think a sizable move will be coming very soon. But before i jump into all that, if you're new to the channel don't forget to join the moon gang by hitting the subscribe button, my goal is to hit 5 000 subscribers by the end of this year and your help with that would be truly appreciated.

Also, it would be great if you could drop a like, because it really helps with getting this video in front of other people who may be interested, and now that i got that out of the way, let's get started now i don't want to bore you to Death by reading this entire thing, so i'll just go over the main parts. If you're interested in the details, this article could be found for free on the verge. Here are the five biggest announcements from apple's one more thing. Hardware event: in my previous apple video, i mentioned that the main emphasis of this event would most likely be on the new processing chip, and that was exactly right.

Apple introduced the apple m1, its new arm processor, for max. It also talked about how the new macbook air would include this processor, and it will cost one thousand dollars. The m1 is also coming to the mac mini desktop. The macbook pro is also getting the m1 and, last but not least, the mac os 11 big sur will maximize the m1 and launch on november 12th to the average person.

This news, honestly, doesn't mean much, i mean all we care about is having computers that work at a reasonable price, but in terms of business it does have pretty noteworthy implications, because apple will be breaking a 15-year partnership with intel. Apple's new laptops and desktops will be using its own chips instead of processors from intel apple is making the move, because it already makes its own phone and tablet processors, and it says it can improve laptop battery life. Intel has also fallen behind on manufacturing and apple's chip manufacturing partner is more advanced. If you want more information on these last two parts, it can actually be found later in this article.

For pretty obvious reasons, i believe that this shift will have a negative impact on intel's bottom line, but it's also a gamble for apple bringing things in-house can save money and they're also arguing that the new chip will be more technologically advanced and allow for more battery Life, but this commonly comes at the cost of less compute power. If apple can adequately balance between battery life and power, that would be a huge win for the company, but if they don't i'm assuming there would be a lot of upset customers. Once these new products hit the market, we'll get a better idea of how things will play out until then, let's switch over to the charts alrighty, then the stock market has now closed for the day and across the board, things were pretty green. The s p 500 was up 0.7 percent.

The tech heavy nasdaq 100 was up 2.2 and apple gained 3 apple stock, trades in the ticker aapl, and it's currently at 119. Today's volume of shares traded was a little light compared to the average volume over the past 10 days. At this price level, apple still has a market cap of 2 trillion dollars, which makes it the most valuable company in the united states over the past week. Apple has gained 3.7 percent over the past six months, it's up 54 and from the start of the year until right now, it's up 62.

Here is the current technical scenario that we are dealing with. In one word: consolidation apple made its all-time high of 138 dollars. Right after the company's four for one stock split from there, there was a large sell-off. This was followed by a medium rally.

Then another smaller sell-off and we're currently at a very small bounce from march. Until now, apple has been putting in higher lows and from september until now, apple has been putting in lower highs, and on top of that, these swings are getting smaller and smaller. In the world of stocks, periods of consolidation are followed by expansion and vice versa. So basically, this consolidation will lead to a large move sooner rather than later.

As of the most recent close, the bulls and bears are still battling it out at the resistance of 119.. If the bull camp ends up winning this fight, i would then look for the stock to get above 122, and if that happens, that would then set up a test of the recent high of 125, and that would be a gain of almost 5. After that, there is another resistance at 128, which would be a gain of 7.6, and just so you know, the all-time high of 138 would be a gain of 15 percent. On the other hand, if this trend line recapture ends up becoming a fake out and the bear camp ends up winning this fight, the first support i would recommend watching would come at 112, which would be a decline of 6 percent.

If the bull camp can't make a stand there, i would then watch the previous low of 107, which would be a decline of 10, and after that we have 103, which would be a decline of almost 14 as a quick fyi. I've highlighted this region between 103 and 100 because i strongly believe that if the stock gets here, it would represent an excellent buying opportunity. That's a big if, though, because the bears definitely have their work cut out for them to break the support of 112 and 107. My personal prediction for the near future would be this bullish scenario.

You see this recent tell-off had a lot more to do with the rona and uncertainty surrounding the presidential election rather than apple itself. In fact, the most recent earnings announcement was pretty bullish and i really like how the stock was able to recapture this trend line. Once november, kicked off apple was able to push through the support turned into resistance at 112. It came up validated this trend line, and now i think it's on its way to continue to fill out this wedge as long as this trend line holds it's just a matter of time before apple stock is at 125 and then 129 to get a more detailed View of, what's going on, let's check out the four hour chart, this time frame, does a better job at showcasing.

The consolidation in apple stock, from early september until now apple, has gone from a large, bold flag to a medium bear flag to a very small bull flag that has recently broken out, or in other words from september. Until now, apple has been caught in a 20 range and the swings are getting smaller and smaller. As i said before, i do think that apple will continue upward, but i also think that there will be considerable resistance in the region between 124 and 127.. Previously too much supply was found in this area, and on top of that, if you take a look at the rsi, there's a pretty good chance that this will show readings of being overbought by the time the stock gets there in an ideal.

World apple would make its way up to this region of resistance and then consolidate even further, which would allow the rsi a chance to cool off and then, after that, it could explode to a new all-time high. On more of a personal note, if you've been keeping up to date with my videos, you know that i am invested in apple and my cost basis is right around 118, which means that i'm barely positive on the position moving forward. I would consider picking up a few more shares at the recent low of 107, but i would prefer to pick up a lot of shares in this region of support between 100 and 103. If you have yet to invest in apple, i would argue that anything below 112 would be a great price for a long-term hold timing.

The market can prove to be extremely difficult, but if you invest at levels of support that will help you optimize your risk to reward. If you have a long enough time frame, an investment in apple will most likely produce very impressive returns years down the road. In fact, i'm looking for apple to hit 150 within the next year as things continue to develop both fundamentally and technically i'll, make sure to keep you updated in future videos so make sure you have your notifications turned on and also keep you posted on. If and when i buy more shares of apple thanks for watching to this point in the video, i truly hope that you found some value in it.

If you want to support my efforts with this channel, it would be greatly appreciated if you could 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 me out if you're interested in the charting software that i use there's a link to a free 30-day trial. In the description of this video and there's also a link to the weibo trading platform. If you sign up and make a deposit of 100 you'll be awarded three free stocks, which could be valued anywhere from eight dollars all the way up to sixteen hundred thanks for watching and until next time.

Best of luck in the markets, you.