AAPL Elliott Wave Analysis: Current Market Structure and Forecast
This Elliott Wave analysis of Apple Inc. (AAPL) provides insights into the stock’s current market structure and potential price movements. The analysis examines both the daily and 4-hour charts to understand the trends and forecasts for AAPL's price action.
AAPL Elliott Wave Analysis Trading Lounge Daily Chart
Apple Inc. (AAPL) Daily Chart Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 3
Direction: Upside in wave 3
Details: The analysis suggests a five-wave subdivision within wave 3, having completed wave {i} of 3 after successfully breaking above TL2 at $200.
AAPL Elliott Wave Technical Analysis
AAPL is currently developing a five-wave subdivision within wave 3. The stock appears to have completed wave {i} of 3 after breaking above the significant trendline resistance at $200. The confirmation of the break above this level supports the bullish outlook for wave 3. The subsequent subdivisions of wave 3 should include minor waves that continue to push higher.
AAPL Elliott Wave Analysis Trading Lounge 4Hr Chart
Apple Inc. (AAPL) 4Hr Chart Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {ii}
Direction: Bottom in wave {ii}
Details: The current analysis investigates wave {ii}, suggesting it may not be complete and could see one more leg lower towards $200.
AAPL Elliott Wave Technical Analysis
The current analysis indicates that wave {ii} is either nearing completion or has the potential for one more leg lower. This wave {ii} is a pullback phase that may target levels close to $200, providing a corrective consolidation before the resumption of the uptrend in wave {iii} of 3. Traders should look for signs of a bottom in wave {ii} as an opportunity to enter positions for the anticipated continuation higher.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: Walmart Inc. (WMT) Elliott Wave Technical Analysis
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