What's going on moon gang, i hope you're doing well and i hope your portfolio saw nothing but green. In the month of september my name is matt and in this video i will be doing a technical analysis of both apple stock and tesla stock. Knowing what levels of support and resistance have been previously established will give us a better idea of what to watch for in october before i get started, if you haven't already, you can join the moon gang by subscribing to the channel. It is completely free and you would be helping me reach my goal of 5 000 subscribers by the end of this year.

All you have to do is hit that big red button and don't forget to turn on your notifications. So you don't miss any of my timely updates. I would love to know your thoughts on both apple stock and tesla stock, so feel free to post a comment below now with that out of the way, let's rock and roll. Let's kick things off with the technology.

Titan apple apple trades under the ticker aapl, and it ended the month of september and started off october just below 117. This means that it has reclaimed the market cap of two trillion dollars over the past week. It's up seven percent over the past one month. It's down thirteen percent over the past six months, it's up a noteworthy ninety percent and from the start of 2020.

Until now, it's up almost 60 percent. As a quick recap, apple announced a four for one stock split in early august and this caused its stock to run 43 and then, when the stock split actually went through on august 31st, the stock started declining and at one point it was down 24. But now it has gone up a little bit and it's only down 15 from its all-time high at 138. As things currently stand, the first resistance would be a gain of 3 and if the bull camp can push the stock above, that that would bring 129 into play, which would be a gain of 10.

But on the flip side, the first support would be found where the stock recently bounced around 103. This would be a decline of almost 12 percent and, of course, you have the important psychological level of 100, which would be a decline of almost 14 percent. Don't forget this is the daily chart, so these levels are pretty important for the medium time frame, but let's switch over to the four hour chart, so we have a better understanding of what could happen in the near future. Now we can get a more detailed view of what's been going on with apple stock and what might happen next.

Its stock split, went through in late august and apple stock had one good green day, but it was short-lived because the stock quickly tumbled. Then on september 4th we created this downward range. First, we started at 123. It dropped all the way to 111, came back up at 118 and then came falling down to 103, which was officially established this downward channel, and then it hit one more time at 112.

But on this third test it was able to break out to 115 and two days later it confirmed a trend reversal. We now have this bearish wedge. It's called a bearish wedge because these commonly break downward, so i'm expecting the stock to ping pong in between these trend lines and when it does break downward. I would be looking for support to be found where it touched here at 113..

I think that this particular scenario will play out before testing 120, because we do have this previous resistance at 118, but obviously anything could happen. The stock could break below this trend line and go directly to 113 or it could come up fill out this wedge. A little bit more get rejected by 118 and then come and test 113.. I'm expecting this area to hold because it's proven to be pretty solid support and resistance on multiple occasions and if it does hold, i would look for a bounce back to 118 and 120 and if we could get above that, that would set up the start of This downward trend at 123 and above that, would put the previous resistance of 129 into play, but on the flip side, if 113 doesn't hold, i would look for support to be found off of this top trend line or in between 104 and the psychological level of 100, to sum this up briefly from september 4th until september 25th, we were making lower highs and lower lows, but the trend officially changed recently and now we're making higher highs and higher lows.

I honestly think that this bullish trend will continue, but i wouldn't be surprised in the slightest if this support needs to be reaffirmed. Now, let's switch gears to everyone's favorite ev stock, tesla tesla trades under the ticker tsla and it ended september and started october just below 450. This means that tesla has a market cap of 417 billion dollars, which makes it the most valuable automaker over the past week. It's up 15 over the past month, it's down 5 over the past 6 months, it's up 393 and from the start of 2020.

Until now, it's up 435 percent, similar to apple tesla, announced a 5 for 1 stock split in mid august, and this prompted its stock to surge a noteworthy 83, and it also created this wedge structure. Once the stock split actually went through, tesla stock came down at one point 34, but now it's only down 11. What we have going on now is definitely bullish. The stock touched this bottom trend line three times, and it also touched this top trendline three times, but on this third attempt it actually broke out now there is a considerable amount of resistance at 462, which is three percent away, but if the bull camp can push The stock above that that would put the all-time high of 502 into play, which would be a gain of 12.5 percent if tesla is rejected at either of these levels.

I would be looking for demand to be found at this bottom blue trend line or 411, where the stock caught itself on three separate occasions from a medium to long-term perspective, if you're an investor in tesla, you should definitely be happy right now, but to get a Better idea of what might happen in the short term, let's switch over to the four hour chart here, we can better understand the resistance. Tesla stock has just overhead the bulls and bears will be battling it out, both at 453 and 462., depending on who wins. This fight will set up the next considerable move if the bulls win that would set up the all-time high at 502. But if the bears win and were rejected either at the all-time high or 462, the stock would most likely get knocked down and have to consolidate between 430 and 412..

Even though this chart pattern is similar to apple, it is slightly different. Tesla has been making lower highs and higher lows, which means i'm personally looking for confirmation, which would come in the form of a higher high and a higher low. Once we see this confirmation, i feel very confident that tesla will be on its way to testing its all-time high at the psychological level of 500. As a quick side note, this is the daily chart for the s p.

500. It's fairly common for large companies such as apple and tesla, to move in the same general direction as the overall market. Obviously they don't have to move in lockstep, but it's difficult for these companies to do well in terms of its stock when the overall market is puking. I'm bringing this up because i want you to watch the 342 dollar area if the s p 500 can get above that.

That would be very bullish for both apple and tesla, but if it's rejected there, and especially if it doesn't catch itself at 331, that would be bearish for both of these companies. Just some food for thought in general, i think both apple stock and tesla stock will have some considerable moves in the month of october. Both companies have their earnings report, tesla's is on the 27th and it seems as if the company is absolutely killing it with vehicle deliveries and apple's earnings report is on the 29th and there are many rumors that the iphone 12 will be announced in the near future. All of these events could easily serve as a stock catalyst.

Where do you think both apple and tesla are going next? Let me know in a comment below thanks for watching to the end of the video. Your support truly means a lot if you're interested in the stock charting software. I use there's a link in the description of this video and, if you enjoyed this video, let me know by hitting the like button. If you want to join the moon gang hit that big red button and help me reach my goal of 5 000 subscribers and don't forget to turn on your notifications, thanks for watching and until next time best of luck in the markets.