Article one of them has to do with the ev market. The other one has to do with the two largest shareholders of apple, who have recently trimmed their position and then, of course, do a complete technical analysis on the stock as well to identify some really important support and resistance level for apple moving forward. Since the trend has most certainly shifted, in my opinion, moving forward, as always, if you guys enjoyed this video and find this helpful, please make sure to drop a like. It really helps out with the channel. Also make sure that you subscribe if you’re new and hit that notification bell, so you don’t miss out on any future market updates and videos related to investing and technical breakdowns, so apple on the day, as of the most recent close was down over one and a Half percent almost two percent trading as low as 130 dollars and 84 cents. Now this right here has been the complete technical breakdown from my previous videos for everyone. Who’S been following up with my apple analyses. This right here is going to be a really really important chart line the ascending support or the higher low. You guys see on the chart, which is going to be this green line. You guys see on the chart again, that’s been coming in from pandemic lows: it’s – not important right now, but we are going to refer back to that line once again later in the video and in one of the articles, so make sure that you remember this line That we had identified in my previous videos all right guys.
So this right here is going to be the first article that we are going to break down, and this comes in from daniel ives who’s, the analyst from webber securities, who covers apple on a more frequent basis, you’ll notice that apple could soar 66 percent. In bold case scenario, as it searches for a golden partnership to build electric vehicles, reading further you’ll notice, how apple could search to 225 dollars per share. That’S the new bold case price target from web bush securities as it searches for a partner to help build electric vehicles. Redbush said that it expected apple to strike a formal partnership with an auto manufacturer sometime in 2021 and that’s going to be within the next three to six months. Apple’S ambitions in electric vehicle space are heating up, as recent reports have suggested that the iphone maker has held talks with hyundai and nissan on a partnership to develop an apple car. Reading. Further you’ll notice that webb bush analyst daniel ives expects apple to strike a formal partnership with an auto manufacturer sometime in 2021, which could lead to a bold case price target scenario in which apple shares surge, 66 percent to 225 dollars per share. I’Ve said that there was an 85 chance that apple could announce an ev partnership over the next three to six months. So again, a very important timeline right there, because pressure for apple is to finalize its plan is likely rising. As recent announcements from ford gm revealed aggressive, ev ambitions as well, so we know that a lot of these companies are going to be rolling out their first electric vehicle, if not more, models in 2021 going into 2022 as well so reading further you’ll notice, with the Biden driven green, tidal wave on the horizon, we believe now is the time for apple to dive into deep end of the pool on the eevee front, and the electric vehicle sector is entering a golden age.
That’S going to be quote unquote a golden age as factors like battery technology, regulatory incentives and tax credits. Our more affordable models create a perfect storm for demand, which is going to be a market addressable market of 5 trillion plus over the next decade. So, since till 2030, over the next decade, we are looking forward to a 5 trillion dollar plus market. We know that tesla is going to be one of the ones that’s going to lead. This change and it’s going to have a really significant piece of the pie, but even if apple gets 5 to 10 percent of that share, that’s going to be roughly about 250 to 500 billion dollars of that market. That could represent another major growth pillar for the company, daniel ives added. So definitely a lot of growth potential for apple cars within this industry, even after the fact that they are a little bit behind the wheel when they are going to be releasing, if not in 2022 2024. So there’s gon na be a long time until we’re gon na see some apple cars in production and, of course, the design, the battery technology the miles the range all that stuff is going to be very, very important for us to understand how well the company does Within this sector, because it’s going to be a pretty new space for apple to enter the production and the margins are going to be a little bit different as well for this segment, so i’m very i’m, going to be very, very excited to find out how apple Deals with those products and those margins as well for apple uh cars and this electric vehicle space.
So this right here is going to be the second article we’re gon na break down that goes over apple stock breaks below post covet uptrend line after the largest shareholders, disclose uh share sales, so that’s the uptrend line that we broke down in my technical analysis that We’Ve broken down several times in the past, it’s gon na be the green line. The ascending support that apple finally broke down today after dropping another one and a half percent that we broke down in our daily market, update so you’ll notice that stock closes below the 50 day moving average as vanguard and warren buffett’s berkshire hathaway trim stakes so reading. Further you’ll notice that the stock closed below it’s a widely watched 50 day moving average for the first time since november 24th, something that we have covered in my previous videos uh several times many chart watchers view the 50 daily moving average as a guide to the Short term trend which trades above it’s suggesting an upward bias and trades below it, warning a potential weakness and we did see some type of a potential breakdown for apple below that moving average and, of course, below the up trending line, which is going to be this Right here so you’ll notice, that was the exact same line that we had on the chart and buying that dip. We’Ve done that several times at close to 112 113 dollars per share, and we saw a huge breakout over that symmetrical triangle as well.
And this right here again is going to be the up trending line and we are closing below that up trending line. So this right here again, but perhaps more worrisome for bulls. The stock has broken below the uptrend line that defined its recovery from march lows, and many technicians are uptrend lines as a place to buy the stock on the dip. The fact that apple’s uptrend line was marked by three intraday lows, since the start of the line indicates that strategy had worked fairly well, so that’s gon na be one two and three touch points for that ascending support or the higher low before us. Finally, breaking down, in fact even four touch points. This right here again is going to be going back as far as i believe, the middle of january before we pushed up – and this right here is the first time we are breaking down uh below that level. So that could suggest that there is a new downtrend that may have just begun for apple. Now, talking a little bit about the two largest shareholders, warren buffett, uh, berkshire hathaway disclosed last tuesday or late tuesday, rather that it owned 887.14 million apple shares or 5.28 of the shares outstanding. As of december 31st, that’s down from 944 million shares or 5.55 percent. So again, it’s more of a rebalancing effect, not so much of apple’s uh, sort of warren buffets or berkshire hathaway’s uh bearish sentiment on apple stock, that’s.
Absolutely not the case. He’S only rebalancing his portfolio, so you’ll notice that, despite the share sales were effective of a rebalancing as the value of berkshire, hathaway steak and apple rose, so their stake value actually rose to 117.7 billion versus 109.36 billion as of september 30th. Now the second one, the apple’s largest shareholder, the vanguard group, trimmed its stake in apple, also by 25.51 million shares, vanguard, owned 1.26 billion shares or seven and a half almost 7.48, of their shares outstanding on december 31st, down about down from 1.28 billion shares or 7.53 Percent of shares outstanding, as of september 30th, uh 2020.. So again, this is not a cause for concern. In my opinion, this is strictly for rebalancing purposes, and this again represents a really strong buying opportunity, because it does increase a little bit of the supply in the market, hence more shares available to buy at those discounted levels. In my strong opinion, so epic games, which is going to be competing against unity, software is a company that’s in the gaming industry and the developer of fortnite video games said wednesday that it filed an anti trust complaint against apple with the european commission and epic games. Alleges that apple has not just harmed but completely eliminated competition on the distribution and payment of the apps on the apple app store, alright guys. So this right here is going to be my trading view platform. If you want to get started, the link is going to be down in the description below and also if you want to get access to my trading view charts.
If you want to get access to our discord, the patreon link is also going to be down in the description below and you’re more than welcome to join. So this right here is the line. The ascending support that they were talking about in the article which is not going to be valid anymore, so i will go ahead and delete this line because we are trading below that support and this right here again going back as far as the last week of January, which we also saw on the chart, was not quite a perfect re test of that ascending support, but we did come down to 127 dollars per share before surging higher prior to the earnings making new all time highs as high as 145 dollars per share. Now, moving forward, one of the most important things for apple right now is going to be this down trending channel because we are making lower highs represented by this red line. You guys see in the chart and some lower lows represented by this red line. You guys see on the chart, so we are trading inside this downtrending channel and the last time apple was trading inside a downtrending channel was going back as far as september of 2020 when we hit a new all time high. So this was as high as 137 dollars per share and we were down close to 24 almost 25, and this right here were the lower highs and lower lows, making a downtrending channel for apple very similar to what we are seeing right now now the way we Broke that trend – and i want to go over this because we have to understand what is potentially going to break this trend and when and if we can see a potential trend reversal for apple in the future.
You’Ll notice that the rsi came all the way down. So we did become incredibly oversold trading as low as 30 29 levels, and the magdalene was also aggressively selling off below the signal line. But the only way we were able to kind of shift that trend is after finding a really strong, horizontal support. That’S going to be this green rectangle, you guys see on the chart which at the time was sitting as low as 103 104 dollars per share, and then eventually, we started making some type of higher highs and higher lows represented by this trend lines. You guys see on the chart so inside that up trending channel for apple, hence shifting that trend – and this right here was a significant breakout over that symmetrical triangle. So we were making lower highs and some higher lows inside that wedge with a further breakout to the upside making. You all time highs, as i was 145 dollars per share, so moving forward. This right here is going to be a new horizontal support for us to watch, which is going to be sitting roughly at 127 dollars per share, which could serve as a really strong area of demand and a bowl camp for apple stocks, similar to what we saw For 103 104 dollars per share going back as far as september right we were trading in this downtrending channel. We came all the way down to this horizontal support before shifting that trend.
So in my opinion, we could see a very similar pattern. We are making lower highs and lower lows. 127 can act and serve as a really strong area of demand and its support before we start making some type of higher highs and higher lows once again and shift that trend yet again the rsi coming down. Once again, we are trading as low as 30. The macd line has also been aggressively selling off. So this right here is, in my opinion, very clockwork for apple. It hits a new all time high, it pulls back, starts trading in lower highs and lower low patterns. We are down roughly about 12 – maybe 15, a little bit over 10 from our all time highs. So again, 127 dollars would be the next strongest support for us to watch for apple moving forward and 132 is going to be the resistance to keep a close eye on, because we did break down and we closed below that level, so that right there. In my opinion, will be the next resistance that apple needs to break out of and then eventually 138 dollars. A breakout over. That level will represent some higher highs and higher lows, and we would be breaking out of this resistance where apple has previously gone rejected. Multiple times so i hope you guys enjoyed this video and found this helpful. If you did, please make sure to drop a like also make sure that you subscribe if you’re new and hit that notification bell, so you don’t miss out on any future market updates.