Elliott Wave perspective favors further upside in Apple (AAPL) [Video]
|Cycle from 1.4.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 1.4.2023 low, wave ((1)) ended at 157.38 and pullback in wave ((2)) ended at 143.54 as the 1 hour chart below shows. Internal subdivision of wave ((2)) unfolded as a zigzag structure. Down from wave ((1)), wave (A) ended at 148.7 and rally in wave (B) ended at 156.33. Wave (C) lower subdivided into 5 waves impulse. Down from wave (B), wave 1 ended at 151.85 and wave 2 ended at 153.39. Stock resumes lower in wave 3 towards 145.72 and wave 4 ended at 149.17. Final leg wave 5 ended at 143.58 which completed wave (C) of ((2)) in higher degree.
AAPL 60 minutes hour Elliott Wave chart
Stock turns higher in wave ((3)) with internal subdivision as a 5 waves impulse. Up from wave ((2)), wave 1 ended at 147.87 and dips in wave 2 ended at 145.23. Stock resumes higher again in wave 3 towards 153.49 and dips in wave 4 ended at 150.65. Final leg wave 5 ended at 156.30 which completed wave (1). Stock is now correcting cycle from 3.2.2023 low within wave (2) with internal subdivision as a zigzag. Down from wave (1), wave A ended at 151.08. Expect the stock to rally in wave B then turns lower again in wave C before ending wave (2) and resumes higher. As far as pivot at 143.58 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
AAPL 60 minutes Elliott Wave video
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