Welcome back moon gang, i hope, you're having an awesome day. I know i'm starting to sound a bit like a broken record, but apple just received even more bullish news. Personally, i am very excited and i truly believe that a brand new all-time high is just on the horizon in this video. I will be going over that recent fundamental update, and after that i will be doing a technical analysis of apple stock.

I will be highlighting the key price levels that will be in play for the remainder of the month, so we can form a better trading plan, but before we get into all that, if you're new to the channel don't forget to join the moon gang by hitting The subscribe button also, it would be great if you could drop a like, because all that support really helps this channel out and now without further ado. Let's get started, i guess christmas came early for all of us apple investors. It was just reported that apple shares gain on report of iphone manufacturing. Increase apple has instructed suppliers to produce around 230 million iphone handsets next year, which is a 30 increase from the pre-rona pace of 2019, with around 96 million slated for the first half of the year.

Whenever you want to know, what's going on with the company, make sure you check out what its upstream suppliers are doing, foxconn technology group, the world's biggest electronics manufacturer and apple's most important supplier, said last month that 2021 sales will grow by around 10 percent amid what It sees as strong demand for consumer electronics in general and the iphone 12. More specifically, for obvious reasons. This has wall street very excited. Last week, web bush analyst dan ives lifted his price target on apple to 160 dollars per share, and he has a bull case target of 200 per share, citing a clear uptick in iphone demand in both the u.s and china.

I've said sales of the iphone 12 could approach the 80 to 85 million unit level by next year, which is well ahead of his prior forecast of between 65 to 70 million. He believes that the number of older iphones that are within the window of an upgrade could prompt an unprecedented upgrade cycle. To briefly sum, this up apple is producing more iphones, because there is an unexpected amount of high demand. This will lead to a higher revenue for the company, which will most likely lead to a higher stock price for apple, no matter how you look at it apple is still one of the best ways to play the upcoming 5g wave to get a better idea of What price levels we should be watching for the remainder of the month, though, let's switch over to the charts alrighty, when the dust settled for the day apple managed to gain a pretty nice five percent, which puts its stock just below 128 dollars.

If we take a look at all the major time frames, apple is green across the board and from the start of the year until right now it is up an impressive 72 percent. 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 from mid-july up until september apple, managed to rally from 89 all the way up to the current all-time high of 138.. This was mainly due to the excitement surrounding the company's four for one stock split.

However, when the stock split actually went through, there was a pretty brutal sell-off that eventually found support. At 103., from there, the bulls managed to push the stock up to a new relative high at 125, and we also got the formation of this pretty weird wedge with the blue trend lines. As we were heading into november, there was a bearish breakdown of this wedge and it eventually found support at 107., as trading in november, got underway. The stock quickly popped up, and for quite a few days it was staying pretty close to 118..

Then, for the second time there was another breakdown and this one found support at 112.. I would like to point out that, from march until now, apple stock has consistently been posting higher lows, which means it's definitely in a bullish trend after finding support at 112. For the umpteenth time, apple shot up once again and got back into this wedge structure from here. The stock was rejected for the second time right around 125, and this led to the bears, pushing the stock below the trend line and that held for three days.

But then today's bullish production news came out and we are now on our way to testing 129, which was resistance in late august moving forward. I am fully expecting apple stock to test this resistance and past that i think one of two main things could happen. Number one the stock could ping-pong back and forth in this wedge, or it could shoot straight up to the all-time high of 138 from the most recent close to get to the top of this trend line, depending on how quickly it takes to play out. That would be a gain of 5.8 percent and to get to the all-time high of 138.

That would be a gain of 7.8 percent. To be perfectly clear, i am heavily favoring this bullish scenario, but just so you know, the closest support would come at the recent low of 120 and past that i would be watching the region between 112 and 118. in terms of the rsi. There really isn't too much going on at the moment, but it does have a decent amount of room to run, so i feel confident in apple testing.

Either this trend line or the all-time high now to get a slightly different, take on what's been going on with apple, let's check out the four hour chart before we jump into this time frame. I wanted to quickly mention that the name of this charting software is tradingview and, if you're interested in it, there's a link to a free 30-day trial in the description of this video anyway, i wanted to point out that, from early september, until now, apple has essentially Been consolidating, we went from this bull flag to a bear flag to a bull flag. Then we were range bound for a bit and now it finally looks like there's about to be a breakout, let's zoom in a bit to get a better view of. What's been going on, as you can see, the stock is getting very close to the top of this region of resistance, which was established from that relative high in late august.

Now, when the stock gets up here, i'm fully expecting the bear camp to put up quite a fight, because once the stock gets above, it there'll be nothing stopping it from testing its all-time high at 138. On top of that, i'm also seeing some bearish divergence in the rsi. What i mean by that is, if you look at this relative high compared to where the stock is now you'll notice, that, even though the stock went up the rsi didn't, this is referred to as bearish divergence, and it's because it's commonly indicative of a future decline Or at least period of consolidation, so when i'm putting all that together, i think there could be quite a fight at 129. As things currently stand, a perfect bullish scenario would be for the stock to get up into this region while the rsi goes higher.

So we can get rid of this bearish divergence from there. We would want a small period of consolidation which would allow the rsi to cool off, and once this pressure is relieved, we would then have the opportunity for apple to make a brand new all-time high. Unfortunately, i do not have a magic 8 ball, so i can't tell you exactly how things are going to play out, but i am heavily favoring. The ball camp, which is exactly why i'm invested in apple and my cost basis, is 117, and on top of that, i also bought call options on the stock that, i think, will pay off big in the coming days.

To be fully transparent. Here are the details of my most recent options play on apple. The strike price is 127. The expiration date is december 24th.

The premium that i paid per contract was 2 dollars and 55 cents and was filled right around 1 pm today. When the market closed, this play was up just around 23. I want to quickly clarify that options are very high risk to reward, which is exactly why i only used a small portion of my portfolio. I know that options can be a very complex topic, so, if you'd like me to make more tutorial videos on them in the future, let me know in a comment below in terms of apple, though i would recommend paying attention to these levels of support and resistance, And especially the one at 129, i would also say to watch for divergence in the rsi, as things continue to develop, both fundamentally and technically, with apple i'll, make sure to keep you updated in future videos so make sure you have your notifications turned on.

I would truly love to know your thoughts on apple in a comment below how do you think that the company will do this holiday season, and how long do you think it will take for the stock to hit a brand new all-time high above 138 dollars? If you have any questions, feel free to post those as well and i'll make sure to answer those in future videos. 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 and as a quick reminder. If you're interested in free stocks make sure you check out the link to the weeble trading platform in the description of this video thanks for watching and until next time best of luck in the markets, you.

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