APPLE INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 172.57 |
| Take Profit | 156.00, 145.83 |
| Stop Loss | 177.30 |
| Key Levels | 145.83, 156.00, 177.30, 193.30, 210.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 177.35 |
| Take Profit | 193.30, 210.00 |
| Stop Loss | 172.05 |
| Key Levels | 145.83, 156.00, 177.30, 193.30, 210.00 |
The price is in a correction and a fall is possible.
On the daily chart, сформирована the third wave of the higher level (3), завершилась a downward correction as the fourth wave (4) and идёт the development of the fifth wave (5). Now, окончена the first wave of the lower level 1 of (5) and продолжается the development of the local correction as the second wave 2 of (5), within which образуется the wave c of 2. If the assumption is correct, the price of the asset will fall to the area of 156.00–145.83. In this scenario, critical stop loss level is 177.30.
Main scenario
Short positions will become relevant below the level of 177.30 with the targets at 156.00–145.83. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 177.30 will let the asset grow to the area of 193.30– 210.00.
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