AAPL: Impulse hints at bullish correction
|According to the current AAPL stock chart, it is possible to assume the formation of a corrective trend, which takes the form of a 3-wave zigzag of the cycle degree a-b-c.
The first impulse wave a looks fully completed. A complex correction b is currently under development, the structure of which hints at the primary double zigzag Ⓦ-Ⓧ-Ⓨ. The actionary leg Ⓦ and the zigzag intervening wave Ⓧ look complete. That is, the last sub-wave Ⓨ is being built now.
The primary wave Ⓨ most likely takes the form of an intermediate zigzag (A)-(B)-(C), where the impulse (A) is formed.
The price may rise to 155.26 in the near future. At that level, intermediate correction (B) will be at 50% of wave (A).
Let's consider an alternative scenario in which the bearish primary wave Ⓨ is more complex in structure and takes the form of an intermediate double zigzag (W)-(X)-(Y). Intermediate waves (W) and (X) may already be completed.
Thus, the market is currently in the last sub–wave (Y), or rather in its last part - impulse C.
It is assumed that the price in impulse C may fall to 108.48. At that level, wave Ⓨ will be at 123.6% of wave Ⓦ.
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.