APPLE INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 182.16 |
| Take Profit | 205.00, 210.00 |
| Stop Loss | 173.65 |
| Key Levels | 156.00, 165.85, 173.65, 205.00, 210.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 173.60 |
| Take Profit | 165.85, 156.00 |
| Stop Loss | 176.20 |
| Key Levels | 156.00, 165.85, 173.65, 205.00, 210.00 |
The price is in a correction and may grow.
On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops. Now, the third wave of the lower level 3 of (5) is forming, the wave i of 3 is developing, and the correctional wave ii of 3 is ending, within which the wave (c) of ii is forming. If the assumption is correct, the price of the asset will grow to the area of 205.00–210.00. In this scenario, critical stop loss level is 173.65.
Main scenario
Long positions will become relevant above the level of 173.65 with the targets at 205.00–210.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 173.65 will let the asset go down to the area of 165.85–156.00.
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