What is going on moon gang? I've been talking about apple and its stock for quite a while now, but in all honesty i am more excited than ever, because apple stock is about to break out to a new all-time high. In this video i will be doing a technical breakdown of apple, so we know what price levels to pay attention to as the party continues, but before i get into all that as a quick reminder, don't forget about all that good youtube stuff. It is truly appreciated. If you could drop a like and hit the subscribe button, all that support really helps this channel out and now without further ado.

Let's get started before we jump into the charts. I wanted to give you a quick update on apple entering into the eevee space, which i discussed in more detail in my previous video. Basically, not all of wall street is thrilled about it. Top apple analyst pours cold water on the latest apple car reports.

A tfi analyst ming, chi kuo, said he wouldn't be surprised if the apple car doesn't launch until 2028 and in the previous announcement they were looking for 2024.. A closely watched apple analyst is warning that investors should be cautious about a report that the iphone maker is planning to produce a self-driving car in 2024. Cool has built a reputation for accurately revealing apple's product launch plans and he closely follows apple's supply chain. He said we think that, because ev self-driving car technical specs are still evolving, it is too early to talk about the final specs of the apple car.

Kuo said that the market is too bullish on the apple car and he wouldn't be surprised if the apple car doesn't launch until 2028 or later, the earliest he thinks it could hit. The market is 2025.. Cool also suggested that apple may be too far behind in artificial intelligence to launch a competitive, self-driving car. This article can be found for free on cnbc's website, and it does go into more detail on this latter part.

But the main point that this analyst is trying to make is that relative to companies such as tesla apple is starting out at a deficit. Yes, apple. Does have the money to pull evs off, but it doesn't necessarily have the expertise. It will be interesting to see how things play out as this storyline progresses.

I'll definitely keep you updated, but for now let's check out the charts alrighty. We are currently in power hour and apple is trading just below 137 dollars, which means the stock is up almost four percent on the day across all the major time frames apple is definitively in the green and from the start of the year until right now, apple Has had an amazing return of over 86? This is the current technical situation that apple stock is in for those of you who are new to the channel. Here's a quick recap of what's been going on. The current all-time high of 138 was hit right after the company went through a four for one stock split.

Unfortunately, after posting this new high, there was a pretty sizable sell-off and support was eventually found. Just above 100 from here, the bull camp stepped in and pushed apple stock up to a new relative high at 125, and then this led to a sell-off with the overall market and a new higher low was found at 107.. Eventually, we saw a new higher low at 112 and it is worthwhile to note that from march until now, apple has clearly been in a bullish uptrend. The stock has consistently been hitting higher lows and, most recently, we've been seeing a bunch of newer highs.

After breaking below this trend line twice in november, we saw a double top rejection at 125, which led to a third breakdown and then eventually, after some weird action, apple stock was off to the races. Apple has been making new relative highs with relative ease over the past couple months, but now the big question is: when are we going to see a new all-time high? As things currently stand, the stock is only less than one percent away, but it is worthwhile to note that it's also sitting at this top trend line, which has served as resistance on two separate occasions. If this were to lead to an official breakout. I would then look for resistance to be found at the previous all-time high of 138 and past that we would have to let price discovery play itself out, so we can better understand the new levels of technical resistance.

As of now my bias is definitely bullish. There's quite a bit of momentum in apple stock, i mean really since mid-november. Until now, this rally has been a pretty impressive one. In all honesty, i would be extremely surprised if the market doesn't at least test 138..

However, in an effort to be a bit more balanced because i don't get every call right and the stock is at potential resistance and the rsi is in the overbought territory, if apple were to get rejected at this trend line or the previous all-time high, you should Know that the closest support would be this bottom trend line, and then that would be followed by 129 and if the bears somehow get a lot of strength past that i would be watching 125. from the current level to get to those areas. It would be a relative drop of 4.3 percent, followed by 6 percent and then the final one would be a drop of 8.3. I definitely want you to be aware of these levels, but once again, just to reiterate, i strongly strongly strongly believe that apple is on its way to testing the previous all-time high and it will most likely hit a new all-time high now to get a better idea Of how things might play out over the next few days, let's check out the four hour chart before i jump into this time frame.

I wanted to quickly mention that the name of this charting software is trainingview and, if you're interested in trying it out, there's a link to a free 30-day trial in the description of this video. Okay back to apple. So in late november, when it made this new higher relative low at 113, the stock then rallied up to 124, where the bulls and bears were battling it out for quite a while. Eventually, the bull camp did win and then the next resistance was found at 129, which is exactly where apple was rejected in late august, after fighting it out there for a bit, the bears won and knocked the stock back down to the resistance turn support at 124..

Looking back on it now, i do believe that the bears overplayed their hand. The bulls came back swinging and not only was there a breakout of 129, but the stock ran all the way up to 134 and then, after two days of consolidation, once again, apple stock is rallying, as you saw on the daily chart. There is a potential trendline resistance right about here, but i do feel pretty confident of apple at least testing the previous all-time high. However, with that being said, i do want to bring your attention to what's going on in the rsi.

If you take a look at the last relative low from december 22nd, apple hit 134 and relative to now, the stock is higher, but the rsi isn't. This is referred to as bearish divergence and it's commonly assigned that the buyers are getting a bit exhausted, which could lead to a period of consolidation or even a small decline. When you put this all together, it's telling me that one of two things could happen. Number one: the stock could shoot above this previous resistance at such a velocity that it would bring the rsi with it, so it gets above 75ish and that would get rid of this.

Bearish, divergence or number two apple stock could get rejected at the previous high and then come down and consolidate a bit. This would allow the rsi to cool off and then, finally, after building a new higher foundation, it would then be able to make its next move. Upward and post a new all-time high, in my opinion, apple stock is about to break out it's just a question of when, in reference to this bearish divergence, you should know that the closest port on this time frame would come at 131 and past that we would Have this previous resistance now turn support at 129.? Personally, i am invested in apple and my cost basis is 117 if apple were to decline and get to this region between 129 and 131. I would strongly consider investing because i think, there's going to be quite a bit of demand in this region, whether i buy more shares or not, i'm planning on holding my apple investment for years to come.

I strongly believe that this is a great long-term investment, because apple is a premier technology company and in my opinion, it has a very bright future, as things continue to develop with apple from both a fundamental and technical perspective. I'll make sure to keep you updated in future videos so make sure you have your notifications turned on. I would love to know your thoughts on apple in a comment below personally, i am very bullish on the stock, but i would like to know your price target for the next year. 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 support is truly appreciated and, as a quick side note, i'm considering starting a new series where i actively trade an account and share all of my moves with you. If that's something that you would be interested in, let me know by hitting the like button and leaving a comment thanks for watching and until next time best of luck in the markets. You.