Elliott Wave View: Apple (AAPL) Ending Wave 5 [Video]
|Short-term Elliott Wave view in Apple (ticker: AAPL) suggests that the pullback to 256.31 on December 3, 2019 low ended wave (4). The stock has resumed higher within wave (5) and the internal is unfolding as a 5 waves Elliott wave impulsive structure. Up from 256.31, wave ((i)) ended at 263.31, and wave ((ii) pullback ended at 259.45. The stock extended higher in wave ((iii)) towards 269.36 and pullback in wave ((iv)) ended at 268.66. Finally, the stock made the last wave ((v)) higher to 271 before ending wave 1 of (5).
The stock is now correcting cycle from December 3, 2019 low within wave 2 before the rally resumes. Pullback is unfolding as a double zigzag structure where wave ((w)) ended at 264.91. Expect wave ((x)) bounce to fail below 271 before another turn lower in wave ((y)) of 2. Then as far as pivot at 256.31 low stays intact, expect Apple to extend higher again. We don’t like selling the stock. If stock instead breaks above 271, then wave 2 would have ended at 264.91 and in this case, the stock has resumed higher in wave 3 of (5).
Apple (AAPL) 1 Hour Elliott Wave Chart
Apple (AAPL) 1 Hour Elliott Wave Video
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.