The daily chart analysis for Apple Inc. (AAPL) shows the stock in a corrective flat pattern. It currently sits within Minor wave C, anticipated to finalize a broader Intermediate wave (4). Confirmation of the bearish wave count hinges on price rejection at the $200 level. If AAPL fails to break above this key resistance, it would support a downside move into wave {iii} of C.

Apple Inc. (AAPL) daily chart

AAPL Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave {c} of B.

Direction: Expected upside in wave {c}.

Details: A triangle pattern in Minute wave {b} near TradingLevel2 ($200) suggests consolidation and a short-term breakout to the upside to complete wave B.

On the 1-hour chart, AAPL appears poised for a near-term rise as it forms wave {c} of B. The recent triangle observed in Minute wave {b} around the $200 TradingLevel2 zone reflects market indecision, likely preceding an upward breakout. This move would complete wave B before a probable decline resumes in wave C.

Apple Inc. (AAPL) one-hour chart

Apple Inc. (AAPL) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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