AAPL Elliott Wave Analysis - Trading Lounge Daily Chart

Welcome to our latest Elliott Wave analysis of Apple Inc. (AAPL). This report offers an in-depth look at AAPL's price action, using Elliott Wave Theory to help traders identify potential opportunities. We analyze both daily and 1-hour charts to provide a thorough understanding of AAPL's market trends.

Apple Inc. (AAPL) Daily Chart

AAPL Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {iii} of 3

Direction: Upside in wave {iii}

Details: The aggressive count indicates an upward trend with a double 1-2 formation. As long as AAPL trades above the $200 level, a continued long-term upside is expected.

AAPL Elliott Wave Technical Analysis – Daily Chart

AAPL is currently advancing in wave {iii} of 3, driven by a bullish double 1-2 formation. As long as AAPL maintains a price above $200, the outlook remains positive, suggesting that the stock could continue to rise significantly. The momentum within wave {iii} supports this ongoing upward movement.

AAPL Elliott Wave Analysis - Trading Lounge 1H Chart

Apple Inc. (AAPL) 1H Chart

AAPL Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave (i) of {iii}

Direction: Top in wave (i)

Details: Expecting another leg higher toward $230, marking the top of MinorGroup1, followed by a correction within wave (ii) of {iii}.

AAPL Elliott Wave Technical Analysis – 1H Chart

The 1-hour chart analysis indicates that AAPL is approaching the top of wave (i) within the larger wave {iii}. A final push toward $230 is anticipated, corresponding to the top of MinorGroup1. After reaching this target, a corrective phase in wave (ii) of {iii} is likely, potentially offering a strategic buying opportunity before the next upward move.

Technical Analyst: Alessio Barretta

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: META Elliott Wave Technical Analysis 

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