Stock, Apple, NASDAQ:AAPL Inc AAPL stock chart analysis 07/08/21
My name is jack you’re watching i heart stock charts and today we are consuming the analysis of the apple we’ll go ahead and take a bite out of apple here, okay weekly chart uh. What do we got? Um? We could not reach the prior all time high. I mean we’re, just guys we’re, just just short of that. Just shy of it man. We only had like 60 cents to go uh. What a cop out, unfortunately, here’s on the weekly chart, uh nice trade up beyond the 142, like we stated before uh tagged in pierce 144, acting as resistance here at that level. Now we’ve seen this picture before haven’t, we we’ve seen it before and we’re almost closed at the same level here, guys all right, so uh we’re, looking at deja vu, yeah it’s, just it’s almost like the same scenario here only we’re rising up on a bullish candle And, of course, we opened here and uh traded down on bearish candle, so i think the sentiment is a little bit different. Although the the similarities are striking all right, we are almost closed out. We have friday’s section before this candle is done forming, so it really is down to tomorrow, guys it really is uh. If we put in a trade a little bit higher than the open of this weekly candle back here in january 25th, then i say: we’re, probably in business all right, we’re, probably going to trade up and take out that high and uh, eventually that higher high.
The all time high, that is the eventual goal here. If we do that, then i mean we’re just we’re gon na guys. We take out the all time high it’s gon na attract a lot of people on that breakout. A lot of people on that breakout. It doesn’t matter how freaking high apple got it doesn’t matter about this parabolic move it doesn’t matter. If we need to re test or rest or anything, there’s going to be people out there that are going to go long on that breakout, they will push that price up. Okay, we’re looking at 146, 140, 146, 46, conservatively okay for a target now friday, if uh apple and the market pushes this down. Okay, down below the close of this candle over here i’m gon na be a little bit more bearish, but i don’t expect it to go lower than 142. I expect if we are going to be bearish tomorrow, we just go ahead and test the 142. all right. I think that’s going to leave a long long wick here on a weekly chart. I think it’s going to look a little bit bearish. I think next week, even if we close above 142, i think next week, we’re probably going for that uh rest guys all right. All right, let’s look at a daily chart here and um. You know i just have to talk about this candle here guys, because this can be confusing to some people who are new, and i just want to point this out.
Okay, now a lot of people look at this candle and say hey: this is a green candle. This is bullish. Okay, this is bullish all right, because it’s green well let’s look at it. I mean look at the anatomy of the candle. How is the candlestick form you got it open down here? All right, you were closed up here. Guys. Is that bullish? Is it bullish not really it’s, not really bullish? Who the hell was selling overnight? You got to wonder, i mean, were they putting in large block trades overnight, where they’re trying to get the hell out of apple before everybody else during the day. Is that bullish? You got to ask yourself these questions, guys all right. I told you yesterday right here: 144.44 man got a big old gap. We got exhaustion volume the day before all right this, this could be a topping candle could be. I think you had a lot of people exit this uh, pre and post market guys. I think you had some block trades. Okay, you got, you got a little bit of an exodus, but we did trade up. We did trade up. Why did we trade up? Because we got a gap to fill right here i mean it’s the market. After all, okay, we love to we love a gap, fill we’re bullish on apple core, says yeah, i mean it makes sense, it makes sense, but we did trade down lower. We tested that lower area.
The market did reject this area. All right, we were talking about a gap down for a uh evening, star reversal, okay, i wanted a gap down here or down here and then the trade through the lower end of this wick. Okay, what we got was a massive gap down here when we gap down here, the the market immediately tested the the lower end of this other candle, all right into that area, uh down to the price of 140 and a half uh, and then the buy the Dip crowd came in guys that’s all i can say all right once that market uh showed a little bit of signs of turning around you got to buy the dip coming in uh. They sent it all the way up here to fill the gap they sent it all the way past there and then some just fill the gap all right, and then we settled back right here below the open price of the previous candle. So you ask me if this is a bullish, candle, yeah, it’s green, but i see weakness honestly, that’s my opinion, all right. You had a lot of people selling selling the hell out of this thing overnight in the morning, okay, and just to push that price down the market maker had to had to bring that price down to meet buyers that were sitting way down here now. Arguably, we did see that over the general market – okay, because the spy did the same thing and yeah i mean just your major exchanges: they gap down, okay, so market apple is not immune to that.
You could say that a large portion portion of the market is apple. Okay, it’s, like a chicken and the egg thing, but yeah as a component apple is very, very important to the markets. But when the overall general market gaps down uh apple pro usually does the same thing, so you have to ask yourself: is this a weakness in apple, or is this weakness in the you know in just the general market all right, so you got to ask yourself That now not every cannot every chart today printed a bullish candle here, a lot of charts did print that gap down and then they printed a bearish candle, okay, a nice red candle on a gap down. So you, like, i said you have to ask yourself this question: is this a bullish candle in my opinion? No is it because apple was a crap company um, probably not no did apple outperform a lot of the other companies. Today, the gap down yeah, i would say, looking at this candle, so yeah let’s, just consider those things guys going forward, but just on a technical basis fill the gap today, fantastic job, filling the gap uh we didn’t quite make it back up to that 144.44. So in going in here in the future, guys we’re gon na see that as resistance now guys, if we gap down and open tomorrow, i’d say below this line here, 142 Music, then i say: we’re, probably just going to be bearish all right with the amount of Bulls, that stepped in here by the dip crowd, usually they’re weaker hands.
So if you, if you gap down below a support – and that is the gap, fill line, if you trade down there and you trade just a little bit deeper into this candle you’re going to get a lot of them to just exit their positions as they’ll, be Losing money uh, especially if you trade below that candle all right mathematically they’ll, any anyone who went bullish in that can will be losing money so that’s. How i see it for the bearish case scenario. Tomorrow is just a gap down below 142 and that’s. A very important distinction, all right, um, yeah we’d, just be bearish. Now, if we gap down into this zone into the middle of the candle, i say we’re just gon na be very confused. Tomorrow, okay, i say we’re, probably gon, na trade up and test that range. I think we’re gon na trade down and test that range okay, but not the full range. In my opinion, uh i mean this is we’ll, probably get like a doji in here honestly, i’m, looking for an inside day or like a harami type candle, because i i really am looking for some indecision, because here we are, we we were supposed to take out. The all time high we were just like, i said pennies away from it, didn’t get it. We actually saw resistance, the rest of that period of that interval, and then we got way down here all right, tested up here.
The market rejected it in that area where everyone was bullish. Yesterday the market rejected it. So i would imagine tomorrow, there’s gon na be some confusion. All right. Confusion is marked by a doji candle or a sp like a spinning top or a high wave candle, so that wouldn’t necessarily be bullish or bearish. That would just be sideways and then, like a wait and see, i mean we’ll probably have to languish over that one. Over the the entire weekend, wondering what’s gon na happen monday, but uh we will do an analysis tomorrow. I rest be rest, assured um, but yeah i’m. Looking for more of that bearish case scenario to happen, uh just just based off of this candle here and the amount that that needed to be sold in the uh, the post market in pre market in order to gap it down that much on this particular blue Chip stock, now that doesn’t mean we can’t go higher. Now, like i said that’s, you know, the target is up here for 146.46 and all it really takes is a breakout of that candle wick right here, um. Arguably this one right here, that’s uh, 145, just 145. we’ll – make it simple. We uh we trade up above that guys like if we get a gap um above in here or something or even if we gap up here, i mean it’s almost guaranteed. If we gap up above 144 444, i would yeah.
I would just be looking at this like oh yeah. This is, this is going to be easy, just riding the 140 146.46, so it just really depends guys, and i think uh the market at this point is, is not immune to a bunch of gaps. I think uh overnight, there’s gon na be a lot of games. Being played, as as some of the volatility plays out um, just just to prove to you that we are having volatility let’s look at the vix, i mean look at the vix guys. Look at your volatility guys. I mean we went from down here at the beginning of the week. Um all the way up here i mean it’s just yeah, so we see a lot of volatility coming in uh. We are currently hitting resistance at 20, as you can see, um the 200 really does like to be tested pretty often so uh. It really depends guys tomorrow. If the vix decides to go up further and break that 20, then yeah we’re, probably going into that 200 to test it again, just like it likes to do, and what does that do to your stocks? Well, it typically makes them go down all right, we’re, just going to see a lot of volatility, so keep an eye on that too. If you’re interested usually helps me out my trading, but i think for now guys i think we’re all done for apple.