APPLE INC.: WAVE ANALYSIS

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APPLE INC.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point174.40
Take Profit160.85, 152.20
Stop Loss178.90
Key Levels152.20, 160.85, 198.00, 210.00, 220.00
Alternative scenario
RecommendationBUY STOP
Entry Point198.05
Take Profit210.00, 220.00
Stop Loss194.05
Key Levels152.20, 160.85, 198.00, 210.00, 220.00

The price is in a correction and a fall is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the development of the fifth wave (5) started. Now, the entry first wave of the lower level 1 of (5) has ended, and a local correction is developing as the second wave 2 of (5), within which the wave a of 2 has formed. If the assumption is correct, the price of the asset will fall to the area of 160.85–152.20. In this scenario, critical stop loss level is 198.00.

APPLE INC.: WAVE ANALYSIS

APPLE INC.: WAVE ANALYSIS

Main scenario

Short positions will become relevant below the level of 198.00 with the targets at 160.85–152.20. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 198.00 will let the asset grow to the area of 210.00–220.00.

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