What's going on moon gang, i hope that you're, having a great day in this video, i will be talking about apple apple - is pretty much the definition of a technology goliath, which is part of the reason why stock is one of my favorite investments and the other Part is pretty simple: i think it has a lot of upside. Today i will be discussing some recent analyst upgrades. I will be doing a technical breakdown of the stock and at the end i will be explaining why i just increased my apple position and you might want to consider doing the same. But before i get into all that, if you're new to the channel don't forget to join the moon gang by hitting the subscribe button, i'm currently on the journey to 10 000 subscribers and your support with that would be truly appreciated.

And as always, if you enjoyed this video, don't forget to drop a like, because it really helps with getting it in front of other people who may be interested, and now that i got that out of the way, let's get started on monday november 30th. It was reported that apple stock received a price target. Upgrade apple was upgraded from hold to buy by loop capital markets, who sees promising trends for production, shipments and sales of the tech giants products, and they now have a price target of 131 for a little bit of context. At the time that i'm making this video apple is trading just below 123., here's a quote from the analyst.

Currently, we see a scenario of upside to consensus in near-term iphone, build and shipment forecasts, as well as an upside to mac ipad and likely airpod watch and service sales well into calendar year 2021, and he continued by saying, given a broad tailwind of product and services Growth, we see apple shares, sustaining a valuation premium to the s p. 500.. The good news didn't stop here, though, on the exact same day, morgan stanley came out with their own bullish comments based on a survey of nearly 3 500 consumers in the u.s and china. An analyst from morgan stanley just said this: we are buyers of stocks exposed to stronger than expected consumer 5g demand.

Current smartphone purchase intentions are the strongest in recent history. This has made her so bullish that she has raised her bull case price target on apple stock. From 171 dollars to 191 and she kept her base case price target at 136 and reiterated her overweight rating on apple stock. So, to sum this up: loop capital is bullish on apple stock because of an increased production and sales forecast.

Morgan stanley is bullish on the stock because of greater than expected 5g demand, and for me, i'm bullish for both of those reasons, and on top of that i think apple 1, the company's bundled services will be a massive revenue generator. Clearly, there's a lot to be excited about from a fundamental perspective. So now, let's check out the technicals. The first trading day of december is now in the books and the stock market managed to kick things off with quite a bang.

The dow gained 0.6 percent, the s p 500, was up 1.1 and the nasdaq 100 gained 1.3. Honestly with numbers like this, it's not much of a surprise. That apple was also green on the day apple stock trades into the ticker aapl, and today it gained over three percent, which puts the stock just under dollars at this price level. That means that apple has a market cap over 2 trillion.

Today's volume of shares traded was heavy compared to its own 10-day average, which i think is because a lot of traders and investors were excited about this potential breakout over the past week. Apple stock is up 7.5 percent over the past month. It's up 12.5 percent and from the start of the year until right now it is up 67, which is very impressive for a company of this size. Here is the current technical situation that we are dealing with for those of you who are new to the channel.

Here's a very brief summary of what's been going on with apple for many years now, the stock has been in a bullish uptrend. It's definitely one of those investments where you can buy shares of the company forget about it, come back years later and collect the gains more recently, though, from the end of july till september of this year, apple stock had a very impressive rally from 90. All the way up to 138, a lot of this had to do with excitement surrounding the company's four for one stock split. Unfortunately, when that stock split actually went through, there was a pretty brutal sell-off down to 103 dollars from there.

The bull camp got their act together and, following the iphone 12 event, they were able to post a new relative high at 125. Following this, though, there was a general market sell-off, as we went into november and apple stock was able to find support at 107, where it bounced got above 112 and became range bound between 116 and 121, and as of today, we have now broken out based on The momentum in the overall market, the recent momentum in apple stock and the relatively low rsi value. I strongly believe that apple stock is on its way to 125, which is the recent high from mid-october and past that we have the relative high from the end of august at 129. From the most recent close, those gains would be 2.3 percent and 4.8 percent respectively.

Once apple stock gets above the second resistance at 129, i could see one of two things happening. The stock could continue to fill out this wedge in the blue trend line, or it could shoot straight up to the all-time high at 138 dollars, which would be a gain of almost 12.5 percent. As things currently stand, i am heavily heavily heavily favoring this bull case, but just so you know, the closest support would be 117, which is the relative high from the start of october, and it's also halfway through this consolidation range and past that we have 112, which Has proven to be an incredibly important support on multiple occasions to get to those price levels, apple stock would have to drop four percent, and the next one would be a decline of 8.2 percent. I hope i made it clear that i don't think that this decline will happen soon, perhaps even ever, but if apple stock were to return to 112, that would be a good buying opportunity and if it were to return to the region between 100 and 103, that Would be an excellent buying opportunity now to better understand what we should be prepared for in the immediate future? Let's switch over to the four hour chart on this time frame.

You can better see that apple stock has been consolidating since early september. It's gone from a large bull flag to a medium bear flag to a very small bull flag which led to a breakout, and then the stock was range bound between 116 and 121, and now we have a new bullish surge, let's zoom in on the recent action. Just a bit as you can see, the stock is coming up on a notable region of resistance. The top of this region is the relative high from late august.

The bottom of this region is what kicked off that large bull flag and within the region, is the relative high at 126 from mid-october? Clearly, there is quite a bit of supply in this area, and you'll also notice that the rsi is in the overbought territory. When you pair these two things together, it makes me think that there's a pretty good chance that the stock comes up into this region and consolidates or gets rejected by this region and consolidates, and after that i think, there'll be another leg higher. This consolidation part is important because it will allow the rsi a chance to cool off moving forward over the next couple weeks. I do think that this bullish momentum will continue if you've watched any of my previous apple videos.

You know that i am invested in the company and my cost basis is 117, but to take better advantage of the future move, i decided to buy some call options on the stock. My entire goal with this channel is to provide as much value as i possibly can, and one way to do that is to be fully transparent. So here are the exact details of my current option play the strike. Price is 125.

The expiration date is december 18th, and the premium that i paid per contract is 2.24 cents and, as you can see, it was filled just before 10 a.m. This morning now, options trading can get extremely complex, so i don't want to dive into that in this video. But you should know that i picked these specific contracts because i thought it had a favorable, theta and delta value, and i, like the implied volatility. All in all.

I think that the fundamentals of apple as a company and the technicals of its stock chart favor the bowl camp, which is exactly why i have two different long positions, as things continue to develop with apple i'll, make sure to keep you updated in future videos and Also, keep you posted on how the options play works out so make sure you have your notifications turned on and as a quick side note, the name of the charting software that i use is trading view and there's a link to a free 30-day trial. In the description of this video, if you're interested it's a great way to support this channel thanks for watching, i really hope that you got something out of this video. As a quick reminder, everything expressed in this video are my own opinions and i am not a financial advisor, so i would highly recommend that you do your own research with that being said, though, i would love to know your thoughts on apple in a comment below Where do you see the stock going in december if you're new to training or, if you're, just looking to open a new account, there's a link to the weeble trading platform in the description of this video? If you sign up and make a deposit of 100 you'll be awarded four free stocks, which could be valued all the way up to 3 700., it's definitely worthwhile to check out and as always, 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 me out thanks for watching and until next time best of luck in the markets.

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