Apple is a long-standing favorite and safer AI play because its devices are AI-capable without heavy spending. It is breaking out of a triangle with higher lows and a new high, more likely an uptrend, and the weekly chart supports long-term optimism. A close at/below 345 or 343 would be a false breakout.

I brought a name that I have loved all year. I loved Apple and never wavered from that. The only thing that really changed is that I started to see a lot of mainstream views. I saw this in the Wall Street Journal talking about the idea I put forward at the end of winter, which is that Apple is an option for investing in artificial intelligence because of the way they designed their devices, but you don't consider them as such because they don't spend money like crazy.

So, once again, it's the same idea that I heard people refer to last week as the " safe haven" for investing in artificial intelligence. Yesterday was a good day, and despite the price dropping at the opening today, it has returned to the green zone.

So, when I mentioned the importance of security at the beginning , I believe that Apple is a safe option that gives you the potential to profit from artificial intelligence to get through the post- election period.

When you look at the Apple chart here, we have reached a new high for this stock today, although it has fallen back a little as the market has declined overall.

Well, Apple is trying to break out of this triangular formation. Therefore, I think this actually looks more like an upward trend than a downward one. We hope this is not a " false breakout" pattern or a failure after the rise.

However, if you look at the stock over the past year, we have seen this decline . The stock was not part of the AI trading boom . It has benefited from the 200-day moving average as a support zone.

We have seen a little consolidation followed by a breakout upwards, reclaiming the 20 and 50-day moving averages . We have seen some erratic behavior, but the stock has been in a strong upward trend for approximately the past three months.

And now we are recording higher lows, and we have a new high here.

What you would not want to see, if you are optimistic, is a close at or below the 345 or 343 level for today. This would be considered a "false breakout ," meaning you attempted to break through resistance, but there were more sellers than buyers to prevent the trend from continuing.

But, if a pullback occurs, you will look at the 20-day moving average, which is acting as a support zone at around $339 now. Next, you will look at the 50-day moving average . The MACD indicator has crossed in a bullish pattern here.

You can see it slowing down somewhat , but the 12-day exponential moving average (EMA) is above the 26-day one, and you see higher lows on the relative strength index (RSI). If we move to the weekly chart, you will become more optimistic about this stock in the long term.

This stock has been a safe haven, and a very stable trade as well. We can see that it was trading in a very good upward channel. In fact, it was holding at the top here, and we saw it break through upwards.

The 20-week moving average in blue was crucial for swing traders. This is what you want to watch for this stock: we see a higher breakout on the weekly chart, the RSI is making higher highs, and the MACD is making higher lows.

You see the MACD indicator in a bullish formation. This graph looks constructive. In the event of any official pullback, look again to the moving averages as your support zone .

Well, we're just over a week away from Apple's earnings announcement, on November 2nd.