AAPL is a strong long-term investment; bullish on future growth driven by AI hardware, product cycles, and management changes.
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But let's move on to your next topic here. I said, Tim, that Dell represents a hardware investment for you. So I'm eager to find out if Apple is also investing in hardware or if it's investing in software.
Well, I mean it's a combination of all of that ultimately. By the way, I am a big fan of Apple. I have integrated technical settings. One day we must compare our settings, Rick .
When I meet someone who is as obsessed with technology as I am, I like to compare to see who owns the most devices and screens. But, nevertheless , you know, I look at Apple as an idea.
I mean, this week might be the last week I mention her. I mean, I've been talking about this since January, and I've mentioned it every few weeks. But when you look at that combination of what they've been able to do in the field of artificial intelligence, again, Mac Studio and Mac Mini, they've sort of managed to get ( I mean, I know they planned for it) to be some of the best computers for artificial intelligence if you're a small user or a small business owner, etc. Add to that DJ Spark technology, and you have everything you need; you're really ready to get started.
This is the story that people don't talk about. Now, it's clear that we have an all-new iPhone being released. I might head downtown and maybe buy one for my wife this evening.
But, the CEO and the chart. So, whether it's in terms of hardware, or of course the software services they offer, the new iPhones, the new Macs, it's back-to- school season, and as cliché as it sounds, Apple always does well in the fall.
As you all know, if you go to any college campus, you'll find MacBooks everywhere you look. I mentioned it briefly, but I really, really admire John Ternos . I think he will be much more innovative, and he will do a lot.
Again, I have a lot of respect for Tim Cook, but he adopted a 'keep it simple, maximize profits' approach. They didn't really have an innovator, obviously, since perhaps the greatest innovator of all time , Steve Jobs. So, I'm very excited about Apple's future.
Good. So, let's delve into the technical aspects of Apple here, Rick. I mean, we've seen some big leaps recently. They even made a good upward move after their event in September, which is something that has not been historically typical for them. But what do you see in the technical setup?
Yes, a good illustration of how quickly things can change in stock trading. We can see that after earnings, we had a higher level before earnings, instead, 344.57. A very sharp drop here, and then the channel shape took its place along our lowest levels in these areas here.
It was repeated again, and its placement across the higher levels matches acceptably here. But there's a strong comeback here. We recorded a double bottom near 300, another low we tested during the day, but we held at 313, and then the gap was closed. 330, we had a high point here which we were then able to surpass.
The gap was also closed here near 337 . Sorry, 330 and 337 were the gap levels that we closed. Therefore, those highs now stand out as the next area to be tested for further breakout.
For moving averages, in this case, all the faster averages lie above the slowest. They are all still moving away from each other. It's been almost five days since we recorded our lowest point of the day near 333.
So, one thing to watch is whether the moving averages will start to converge or change their bias from upward to downward. Those are signs of a possible change in direction. Those are the warning signs.
Regarding the Relative Strength Index (RSI), we had a triangle shape similar to one of our previous charts , but now we are breaking through the red trend line. Our green trend line is still valid.
We are approaching the peak buying zone. If we start recording new record highs , we are also likely to see a confirmatory push towards the overbought zone . Next, you will start looking for momentum discrepancies between the Relative Strength Index and the price as signs of a slowdown as well.
The size profile here shows that things are noticeably falling above 336. This is quite expected. We spent a very short time in that area. But the densest area and closest to our current location is between 308 and 314.
Therefore, this area stands out as a potential support zone.
Good. We are currently trading at 335.35. Once again, Apple's stock is facing slight pressure in line with the broader market today. We are down by about a third of a percent.
What this channel has said about $AAPL
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