Apple (AAPL) Elliott Wave forecast signals extended downside path [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

The short‑term Elliott Wave view in Apple (AAPL) shows that the decline from the July 30 high has unfolded with impulsive qualities. This structure points toward further downside risk. From the July 30 peak, wave (A) ended at $300 in a clear five‑wave impulse. The rally in wave (B) is considered complete at $316.29, forming a double three corrective structure. Within this advance, wave W finished at $312.75 and wave X at $301.32. Wave Y completed at $316.29, thereby finalizing wave (B) at a higher degree.

Apple (AAPL) 60 minute Elliott Wave chart

The stock must still break below wave (A) at $300 to dismiss the a double correction within wave (B). Even so, the impulsive nature of the initial decline combined with the corrective form of wave (B) favors additional weakness while price remains below the July 30 high. Apple has already turned lower in wave (C). From wave (B), wave 1 ended at $300.57 as a diagonal structure. A rally in wave 2 is expected to fail beneath $316.29, reinforcing the bearish outlook. In the near term, as long as the pivot at $344.77 high remains intact, rallies should fail in either three or seven swings.

AAPL Elliott Wave video

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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