What's going on moon gang, i hope you're having a phenomenal day. I also hope that your portfolio is doing well, thus far in november. In this video i will be talking about two of my favorite investments, apple and tesla. I will be doing a technical analysis of both stocks, knowing the upcoming levels of support and resistance will help us make better decisions, as things continue to develop.

But before i dive 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 on the screen now is apple's daily chart. Apple trades, under the ticker aapl and thus far in the month of november, apple's stock has gained almost 10.

It closed out the second week of trading with a very minimal gain, and its stock is currently at 119 over the past week month and three months. Apple. Really hasn't done much, but from the start of the year, until now, it's up a respectable 62. If you've been keeping up to date with my apple videos, you will be familiar with the current technical scenario.

For those of you who are new to the channel here are the cliff notes, from august until september, apple stock rallied to a new all-time high at 138. This had a lot to do with the excitement surrounding the company's four for one stock split, but when the stock split actually went through, there was a sell-off followed by a rally followed by a sell-off and once again we are now rallying. There are a couple things i want to quickly bring to your attention in a pretty bullish fashion. Apple's most recent low was an undershoot of the previous low, and on top of that, it was able to recapture the incredibly important support of 112 dollars with relative ease and quickly got above.

This trend line. Apple stock hasn't fully recovered from this sell-off in october, but what we're seeing thus far is a pretty decent bounce in more of a general sense. I want you to take note that all these oscillations from high to low and back again have been having a smaller and smaller range, which means that the stock is consolidating. This is important because, when you're dealing with stocks, periods of consolidation are followed by expansion.

So it's just a matter of time before we see another sizeable move like we did in august as we patiently wait for that to become a reality, i would recommend paying close attention to the upcoming levels of support and resistance. Over the past seven trading days, the bull camp has been trying to recapture 119 dollars, but the bears are putting up one heck of a fight. If the bulls end up winning the next resistance would come at the previous high of 125 dollars, which would be a gain of 5 if the stock gets above that, i would then be watching the next resistance at 129, which would be a gain of 7.8 and Just so, you know for apple to return to its all-time high of 138. That would be a gain of almost 16 percent, but on the other hand, if this recent surge ends up failing, you could look for a bounce off of this trendline, but the first main support i'll be watching comes at 112 dollars, which would be a decline of 5.8 percent, if the bear camp pushes the stock below that, i would then be watching the recent low of 107, which would be a decline of 10.

Now i don't think it will happen in the immediate future, so it is a bit of a long shot, but if apple stock ever returns to the area between 100 and and 103, i think it could mark an excellent buying opportunity, because i'm expecting a lot of Demand to be found within this region before we switch over to the four hour chart. Let's take a quick look at the rsi. Currently, the rsi is essentially in the middle of the road, which means that we have to wait to see which side wins. The fight at 119 dollars - i am fully expecting to get the answer to this over the next couple trading days, so make sure you're paying attention.

Now we can better see all that consolidation apple stock has gone from a large bowl flag to a medium bear flag to a small bull flag that broke out at the start of november. As you can see, apple stock has previously been rejected at 124 and 126. So if and when it returns to this region, i am expecting more resistance. I'm really not surprised that this recent rally didn't make it into this area, because there was bearish divergence in the rsi, even though the stock made a new high, the rsi didn't - and this is commonly followed by consolidation moving forward.

I'm looking for the bulls to hold 119 and then make a run at the next region of resistance, but keep in mind. There is quite a bit of pressure from the overall market because of the spike in virus cases. I am currently invested in apple and i'm essentially break even on the position. If the opportunity presents itself, i would consider buying more at 107, but i'm really looking to load up in the area between 100 and 103.

Now, let's check out, what's going on with tesla tesla trades under the ticker tsla and at the time that i'm making this video it's at four hundred and eight dollars. It closed out the second trading week in november by dropping point, eight percent, but thus far in the month. It is still up five point: two seven percent. Over the past week, it's down five percent over the past three months, it's up 11 and from the start of the year.

Until now, it's up 388. There are a lot of similarities between apple and tesla tesla, also posted its all-time high of 502, which came right after the company's five for one stock split from there. There was a sell-off which was followed by a lot of swinging back and forth and similar to apple. These ranges were getting smaller and smaller tesla's.

Most recent close was just below the support of 412. If this trend continues, the next one would be at the recent low of 380, which would be a decline of 7 and past that we have the region of support between 350 and 360, which would be a decline of 13 i'll talk more about this in just A bit if the bull camp ends up recapturing 412, the next region of resistance - i would be paying attention to would come between 450 and 460, which would be a gain of 11.4 percent. I'm expecting the stock to struggle at 462 because that's where it's double top before, but if we get above that that would set up a test of the all-time high, which would be a gain of 22. So not only is there a lot of overlap between apple and tesla's chart, but a similar situation is going on in the rsi.

The current reading is very close to 50, which means that we'll have to wait to see how this battle ends up playing out over the next few days. Let's switch over to the four hour chart to get a more detailed view when you include pre and post market training, you get a slightly different top trend line, which is actually now showing a failed bullish. Breakout in early november, tesla was able to recapture both 412 and the top trend line with relative ease, but too much supply was found at 449, which pushed the stock below both of those levels of support. If this doesn't turn around quickly, there's a very good chance that tesla will be dropping to 380 dollars.

If you happen to be a tesla investor, i know this isn't what you want to hear, but on the plus side i would consider it to be a decent buying opportunity. I do own shares of tesla and my cost basis is exactly 400. I'm thinking about picking up a few more shares at 380, but in all honesty, i'm really waiting for the region between 350 and 360 to load up if tesla stock drops all the way to this region, and that's a big if i would consider it to be An excellent buying opportunity, i would love to know your thoughts on both tesla and apple, at what price levels would you consider buying more, as things continue to develop, fundamentally and technically, with both of these companies i'll make sure to keep you updated in future videos so Make sure you have your notifications turned on 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, there's a few things you could do to help me out, you could leave a comment, drop a like and join the moon gang by hitting the subscribe button. All that engagement really helps with getting this video in front of other people and as a quick side note if you're interested in the charting software that i use there's 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 will 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.

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