Elliott Wave Analysis on Apple (AAPL) 5 Waves Rally Favors Bullish Side

Elliottwave_Forecast
09-03

Short Term Elliott Wave in Apple (AAPL) suggests pullback to 195.99 ended wave IV. The stock has turned higher in wave V with internal subdivision as 5 waves impulse. However, it still needs to break above previous wave III peak at 237.23 on July 15 to rule out a double correction. Up from wave IV, wave (1) ended at 213.5 and wave (2) pullback ended at 201.07. The stock nested higher with wave 1 ended at 214.25 and pullback in wave 2 ended at 210.64. Stock then resumed higher in wave 3 towards 227.98 and wave 4 ended at 224.80. Final wave 5 higher ended at 228.34 which completed wave (3).

The stock then pullback in wave (4) with internal subdivision as a double three Elliott Wave structure. Down from wave (3), wave W ended at 223.9 and wave X ended at 228.22. Wave Y lower ended at 223.3 which completed wave (4) in higher degree. The stock has turned higher in wave (5). Up from wave (4), wave 1 ended at 229.86 and wave 2 pullback ended at 225.53. Wave 3 higher ended at 232.92 and wave 4 pullback ended at 229.30. Expect the stock to end wave 5 and this should complete wave (5) of ((1)) in higher degree. Afterwards, the stock should pullback in wave ((2)) to correct cycle from 8.5.2024 low in larger degree 3, 7, or 11 swing before it resumes higher. Near term, as far as pivot at 195.99 low stays intact, expect dips to find buyers in 3, 7, 11 swing for further upside.

Apple (AAPL) 60 Minutes Elliott Wave Chart

Apple (AAPL) Elliott Wave Chart

AAPL Elliott Wave Video

Source: https://elliottwave-forecast.com/news/elliott-wave-analysis-apple-aapl-5-waves-rally/

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（1）

  • Top
  • Latest
  • breezzi
    ·09-03
    Interesting indeed
    Reply
    Report