 Welcome to the channel. This is reliable Rudy and today. We're going to pick up the apple charting from where we left off We're going to attempt to finish our apple charting today. So it might I I Hope I can get that done in two videos, but we might use a third video. So expect two or three videos out today But first and foremost, I'm not a licensed financial advisor Everything in this video contains only my opinion and it's for entertainment purposes only So getting into this video. We're going to briefly monitor our touch base on this 702 retracement right here Talk a little bit about yesterday's candle, but then we're going to play around with this fib tool a little bit more Also, if you don't know why we have this are picking up from this point you can not and if you're not up to date you can go watch the last video that I posted and See how we got to where we're at So going into this video we're going to look at this 702 retracement, so I'm going to zoom in here Now I can see Looking at the trading day from from Monday This could be taken bullish or bearish now I say I'll start with the bearish version As we're getting close to the 702 we are seeing some sell-off Now at one point yesterday this candle was actually a full green candle Now from that point on in the day, this was the selling pressure that transpired during the day That is that is decent volume to get Apple price to move like that But ultimately it is a green candle It's holding above our 618 retracement and it is sort of a shape bottom So that is a good sign for the bears now looking more so at this trend line I'm keeping an eye on this gap right here because if this were to trade down and meet up with this trend line However way they have this trend line set. I would expect good volume off of here So we are going to keep touching base on this 702 retracement I do think that we are going to get a price to this towards this 702 but any type of structure like this on A retracement is not something that I want to be playing with that's playing with fire in my opinion But that is we will touch base on that over the course of This week may be into the rest of this month But for now I'm going to take down everything that we have drawn up here And we're going to go over the extensions on a Fibonacci tool Now before I go into this keep in mind if I were if I'm to bring up a price in the past Keep in mind that they have had a 7-1 stock split and a 4-1 stock split So that is basically Increasing the amount of shares to lower the actual price of the stock It does not change anything with the market cap of the company So going into this fit the rest of this video We're going to switch this to a weak chart and the same way that I use the Fibonacci tool up here from Top of the move, bottom of the move. We're going to look at these large drops And put a Fib tool through them and see how The price of Apple over the course of history we're going to look at the history of Apple stock So we can start with this first one. This is the dot-com boom. This is the year 2000 Now I can see just from this a first initial drop. This is probably about a 702 retracement Yep Pretty much a 702 retracement we can zoom in for that But We are not going to focus on that too much But I mean that's just a prime example though, but top of the move bottom of the move now This was not a slouch of a drop This was a 82% drop, holy Yeah, that was a pretty crazy drop So we should have some decent extensions to go off of right here now I can see that we do have a little bit of selling into these first two extension points Now I can also see when we push this price. Let's just put a horizontal line right there real quick So there is selling pressure as we get to the previous all-time high right here But ultimately when we do push that we back test it and hold above it That is why you see this price continue to run now we get a little sell-off little sell-off Now what happens at the fully extended price now the fully extended price? I shouldn't have moved it You can see pretty much on the button now. This isn't a slouch of a drop right here This is people selling a fully extended stock in my opinion So this sell-off from top of the move to the bottom of the move 25% now Is that justified of a fully extended stock? I wouldn't say so, but you got to remember this Is it is not going to be 100% accurate? But this is the type of sell-off I'm looking for for a fully extended stock So we're going to take this Tool down and we're going to look at the percentage drop here 60% drop now that is more justified to me of a of a fall from a fully extended stock now There's no way you can tell me that in 2007 during this housing market crash that Apple was properly priced up here This is a large run and there is a lot of people that were able to buy the stock down here That could potentially sell and pull the rug out from underneath the apple But if I were to look more in depth of this drop right here I can see from top of the move and we'll just take this first initial drop I mean this was a this was a bull trap all day. You're getting through your full extension price You're thinking oh, we're going to continue getting this push right here But this ends up turning into a one two three an ABC correction Now this like I mentioned a 60% drop. We're going to put our fib tool right through Right through everything now I can see at my first extension point same scenario We fight to get overbeat all-time high price But as we continue attempting to we initially get this run up to our first extension now We do get some sell-off we put this head and shoulders look but ultimately this bull flag breaks out and I can see Congestion I'll move this over just a little bit more. I see some congestion at my second extension point But ultimately same scenario we get some sell-off at our all-time high price now Is this first drop a justified drop right here? 18% from a fully extended stock. Do I think that's a justified drop? I Don't know I don't think so and Here we do get an exhaustive push through this fully extended stock right here so What is this percent drop and this is the year 2012 now? You can't tell me after Apple has run 806% that it is properly priced it is trading at fair value right here now It very well could have been I do not know I have to dive deeper into their financials at that time period But if I don't think that the price of Apple is properly stocked at the moment I probably wouldn't have thought at this time that it was properly priced But looking at we're gonna take this flip tool off because this is a justified drop right here So top of the move bottom of the move Apple's price had dropped 45% Okay, now we're talking that is what I'm at that is what I'm trying to look for in a properly Over-extended stock that's a drop I'm looking for so same scenario. We're gonna go top of the move Now I can see same thing we got congestion off our first extension. We put in this quadruple top now We do get some congestion. I should pull this over just a little bit more We get some congestion and a hard sell-off But that reverts right down to a trend line and we do attempt to get a fully extension a full extension now From this drop right here If I were to consider this a fully extend are in the ballpark range of a fully extended stock You can see we put in this double top right here. This is not a good look any type of bearish structure going into These full this full extension. I would be immediately thinking okay, it's time to exit and Simple supply and demand if more people want to buy the stock then sell it the price You're gonna go up well same scenario the other way and this is a decent sell-off right here This is 2018 sell-off now. This sell-off is a Take top in the move bottom of the move Around a 40 39% drop now. I think that's justified Even though it's not to a full extension I think that's justified. So we're gonna take this tip tool off Now this is where I've made a couple attempts at this video Believe me my first video temp was like 22 minutes long But this is where I had to dig a little bit deeper into this because it is not the more ideal of what I'm looking for Now I can see at this full extension price I do get a hard sell-off, but you can see the price continues to run And this is the price that we've had now Um as this is not a slouch of a drop This is I believe a 25% drop from top of the move bottom But you can see we're gonna go into a day chart and look at how this these couple days transpired this wick During this week the price was not here. There was a hard rejection here now Also is 25% drop justified for a full extend Stock I don't know, but we're gonna go to a day chart and we're going to look At how this transpired at this full extension now you can see We gap up over top of our full extension and there is an initial sell-off But the bulls trade it up now the following day we get a gap up in price again This is to some people this could have been bullish To me, I mean watch out And we do get a sell-off right here now Why do I think that we continue to push in stock price? Well, here is our COVID 2020 drop So I'm going to take this fib tool out for right now and we're going to look at this COVID drop from top of the move Bottom of moving we're going to pull it all the way through The rest of our chart now you can see this is what I'm looking for in a full extension Now is this current drop that we have a justified drop? Now you can see at our first extension point right here We get some this is not a very bear or a very bullish look We're getting a double top structure into this now you can see our $96 gap is right here We're going to put that back in there From on this day in July we gap over top of this exact extension point that we just put a triple top into We gap up over it and we've never come back Now I've already shared with you guys how I think a potential drop could transpire to get down to that $96 gap Now This is a full extended stock from the COVID drop top of the move bottom of the move. I can clearly see that Now we're going to take this Fib tool off And we're going to look at this drop and is it a justified drop? 28% okay, that is a solid drop do not get me wrong, but what have our other full extended stocks done? Now let's not forget What years are these? What days of trading were these? The years 2020 to 2021 where I've already gone in depth of how I think Apple has benefited from stimulus checks and people having money When people have money to spend Apple is going to benefit because a lot of people use their products now This is what the this is the year it just so happens that we go off course from this Full extension in 2018 so from the top of the move bottom and move right here. This is a fully extended stock But we continue pushing higher now. Why is that? Stimulus checks everyone has money to spend But going from our COVID drop we get a full extension now Taking this Fib tool off our other drops We're going to go look at each one COVID drop 35% 2018 40% 33% 43% 60 Roughly 62% we'll say and we know this one was 82% from the very beginning of the video Those are full extension drops right there Is 28% a large enough drop now? What is our drop to our $96 gap? That is what I am going to be wondering right there 47% drop now Ask yourself before I end this video Is a 47% drop justified? Has it happened before? A 40 plus percent drop in apple has happened multiple times And I've talked about how apple has benefited from stimulus checks and people having money I think it's reasonable for apple to fall down to that price and my valuation for the company that I ran Also tells me okay. I like the stock more Down at $96 especially with that gap fill now simple supply and demand Are more people going to want to sell? Or buy the stock now i'm going to put this initial Fib tool up there again Here's my 702 retracement are more people going to want to buy or sell That is going to complete the video for today. I know it is on the longer side But I want to get these examples across so you have an idea of what I'm looking for that way in future videos when I'm moving a lot quicker and You guys can follow me along a lot better and we can be more efficiently Um, we can be more efficient together, but I hope you guys enjoy the content and I'll see you on the next video