Apple Support & Resistance Levels Going into Split: $435 / $515
Apple broke out of its trend channel July 31st. Looks like resistance could form at $515 ish on Aug 31. If it breaks down (doubtful) the first key support is $435, then $412, then $396. If you are trading it, I would stay in until these levels. Just looking at charts, it's hard to imagine it going above $515 before August 31st but then again we are in a wild market. I think everyone is anticipating it going higher after split but I think there's going to be a lot of profit taking. Out of all the FAANGs, I see Apple and Google more risky than Amazon, FB, Netflix, unless 5G phones are a blowout (My basic understanding is the 5G network is not built yet so 5G will have limited access. Please chime in if you have more intel.
• "There is barely any 5G coverage yet. People are pushing this new technology but the infrastructure isn’t quite there yet. It’s like 8K TVs when there is no 8K content."
• "The purpose of the low band 5g is capacity. The speeds are marginally better or on par with upper end of LTE but the capacity on the same spectrum is greatly increased, reducing congestion related slow downs."