Apple (AAPL) 3 Waves Corrective Rally in Progress
Apple (AAPL) 3 Waves Corrective Rally in Progress
August 24, 2023 By EWFHendra
Short Term Elliott Wave view in Apple (AAPL) suggests the decline from 7.20.2023 high ended at 171.74 as wave a. The internal subdivision of wave a unfolded as a 5 waves impulse. Wave b corrective rally is now in progress as a zigzag Elliott Wave structure. Up from wave a, wave 1 ended at 173.35 and wave 2 ended at 172.43. Wave 3 higher ended at 175.49, pullback in wave 4 ended at 174.35. Wave 5 ended at 175.57 which completed wave (1) in higher degree. Pullback in wave (2) ended at 173.74.
The stock then resumed higher in wave (3). Up from wave (2), wave 1 ended at 178.43 and dips in wave 2 ended at 177.31. The stock resumed higher in wave 3 towards 181.33, pullback in wave 4 ended at 180.63. Last leg wave 5 ended at 181.55 which completed wave (3). Pullback in wave (4) ended at 180.52. Expect the stock to extend higher in wave (5) to complete wave ((A)) in higher degree. Afterwards, expect pullback in wave ((B)) to correct cycle from 8.18.2023 low before the rally resumes. Near term, as far as pivot at 171.74 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside in wave ((C)).
Apple (AAPL) 30 Minutes Elliott Wave Chart
Apple (AAPL) 30 Minutes Elliott Wave Chart
AAPL Elliott Wave Video
Source:https://elliottwave-forecast.com/news/apple-aapl-3-waves-corrective-rally-progress/
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