AAPL: Intermediate correction may rise to 166.77
|According to the current AAPL stock chart, we can 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 (A) is a leading diagonal, and the correction (B) is a zigzag, for which the final impulse sub–wave C is needed.
The price in the minor impulse wave C may rise to 166.77. At that level, intermediate correction (B) will be at 76.4% of leading diagonal (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). The intermediate waves (W) and (X) may already be fully completed.
Thus, the market is currently in the last sub-wave (Y), or rather in its last part - the impulse C.
It is assumed that the price in impulse C may fall to 121.89. At that level, wave Ⓨ will be equal to wave Ⓦ.
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