APPLE INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 171.72 |
| Take Profit | 156.00, 145.83 |
| Stop Loss | 178.82 |
| Key Levels | 145.83, 156.00, 178.82, 196.30, 210.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 178.85 |
| Take Profit | 196.30, 210.00 |
| Stop Loss | 173.05 |
| Key Levels | 145.83, 156.00, 178.82, 196.30, 210.00 |
The price of the asset is in a correction and a fall is possible.
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 first wave of the lower level 1 of (5) has ended, and a local correction is developing as the second wave 2 of (5), within which the wave c of 2 is forming. 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 178.82.
Main scenario
Short positions will become relevant below the level of 178.82 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 178.82 will let the asset grow to the area of 196.30– 210.00.
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