What's up moon gang, i hope you're having a great day in this video i'll, be going over a quick update of apple stock. Since the last apple video things have been playing out according to plan, so it's time for a new technical breakdown, i'll be mapping out the key price levels that will be in play over the next few trading days. But before i get into all that, i have two quick announcements for you. First, the weeble promotional deal is about to end in a couple days.

So if you want four free stocks, make sure to check out the link in the description of this video and if you want a fifth free stock, there's also a link to robinhood and second in 2021. I want to bring you even better content that you truly enjoy, i'm considering starting a series where i actively trade an account and share all the details with you and i'm also thinking about getting into live streaming. Basically, let me know in a comment below what you would benefit from the most if you haven't already don't forget to join the moon gang by hitting the subscribe button and turning on the notifications. So you don't miss any of those upcoming videos and now with all that, out of the way, let's get started before we jump into the charts.

I wanted to take a quick moment to share my personal thoughts on how apple will perform in 2021. To put it simply, i am very bullish: apple stock will most likely close the year out near all-time highs, and i believe that that momentum will carry over into 2021.. First of all, the demand for the iphone 12 appears to be absolutely record-breaking and there are even rumors that the company will have to ramp up production of the phone by close to 30 percent in the first half of 2021. Also.

I think that 5g will be very very popular and apple stock is one of the best ways to ride the wave and finally, outside of iphone sales and 5g apple's. Other business sectors are growing at double digit rates. I'm specifically excited about apple 1, which is the company bundled services package, and i think that this business sector alone will produce billions of dollars of revenue for the company, no matter how you slice, it apple is a premier technology company, and i personally believe that it Will continue to dominate in 2021, but for now, let's check out the charts alrighty at the time that i'm making this video apple, which trades on the ticker aapl, is trading at 133 dollars and it's down almost one percent on the day from the start of the Year until now, apple is still up a very respectable 82 on the year. 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 recently. The stock did hit a new all-time high just below 139, but before that the record was at 138, which came in the start of september right after the company's four for one stock split after this high was hit. There was a pretty brutal sell-off all the way down to 103 dollars from there. The book camp pushed apple stock up to a new relative high at 125, and then the bear camp quickly pushed the stock down to a new higher relative low at 107..

Then the bulls try to get it back up into this wedge structure, these two blue lines and then for the second time the bears caused a breakdown and we saw another newer, high low at 112.. Then, once again, the bulls pushed the stock up to 125 and were rejected for the second time, and support was eventually found at 120, which is exactly where the stock was rejected in mid-november and also mid-september from there. This led to a fake-out fourth breakdown and eventually the stock shot up and broke above this trend line just to get rejected at the previous all-time high of 138. In my previous apple video, i mentioned that there was a very good chance that the stock could get rejected either at this blue trend line or the previous high, and my reasoning for that is what i was seeing in the rsi.

If you compare this high to the newest one, you'll notice that, even though the stock went up the rsi value didn't, this is referred to as bearish divergence and it's commonly assigned that the buyers aren't as strong as they are here, as they were here. This commonly forces a period of consolidation and that's what we're seeing right now. If this bearish momentum were to continue, the closest technical support would come at 129, which is where the stock was rejected in mid-december and late august. But i wouldn't be surprised in the slightest if a new support is formed somewhere between 129 and 133.

Now i don't think that this is likely at all, but if the bears were to cause a breakdown, the next support would come at 125 and past that we have 120.. As i said, i really don't think that these two bottom levels of support are that likely, because i'm expecting quite a bit of demand somewhere in this region, if and most likely, when apple stock pulls a u-turn. The first resistance would come at the last all-time high of 138 and past that i would recommend paying attention to the key psychological level of 150 moving forward, i'm personally going to watch how the bulls react to this support of 129 into how the bears react to This resistance of 138 also be paying attention to any divergence in the rsi now to get a better idea of how things play out over the next few days. Let's check out the four hour chart before we jump into this time frame as a quick reminder if you're interested in this training software, it's name is tradingview and there's a link to a free 30-day trial in the description of this video, okay back to apple, as You can see on this chart from november.

Until now, the stock has clearly been in a bullish, uptrend, and it's closing out the year on a pretty solid note. Yes, apple was just rejected at 138, but take a look at how overbought apple stock was. I also really like how there is no bearish divergence on this time frame that we saw on the daily time frame. I would be much more concerned if we were seeing it in both charts.

Anyway, i am expecting demand to be found at the previous resistance of 129, but apple might bounce even earlier, because, as you can see from december 22nd, up till the 24th, a solid foundation was built right at 131. Now that the rsi has had a chance to cool off, i think it's pretty reasonable to assume that apple stock will bounce somewhere in this region, and then it has enough room to run to make a new all-time high. On more of a personal note, i bought some call options expecting the new all-time high to be even higher, but, as you can tell, i got absolutely smoked on them. In reality, it's not that bad, because i do own a fair amount of apple shares and my cost basis is 117, so at least i have those going for me.

As things currently stand, i am considering investing in more shares of apple at the 130 dollar price level, because i believe that apple has done exceedingly well this holiday season and come the next earnings announcement. I think that the stock will jump and might even exceed 150 dollars. Personally, i am very bullish on apple, but i would love to get your thoughts on the stock in a comment below also don't forget to. Let me know about what type of content you would like to see moving into 2021, 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 and turning on your notifications, All that support really helps this channel out thanks for watching and until next time best of luck in the markets, you.