Apple Inc has been everyone’s favorite investment and has exponentially multiplied itself over the years.
After the split 1:3 around 90 levels the stock is back near to its all time high!
Apple chart:
As per the Elliott Wave perspective, prices completed primary wave III at 100 levels and since then moving in wave IV. Internal structure of primary wave IV suggests that it is probably forming flat correction (A-B-C) where intermediate wave A completed at 55 levels and thereafter moving higher in form wave B in which minor wave c is ongoing. Hence after completion of wave B, we expect the stock to move lower in intermediate wave C. Now, any move below 80 levels will suggest that intermediate wave c has started on downside whereas on upside 100 will be an important resistance.
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Great Article...But where do you think will prices head now?
ReplyDeleteThe short term trend remains positive but for an investor I think $70 is an ideal stop level which is low of wave b. Move below this level will confirm a 3 wave rise which will further confirm our existing Elliott wave counts...
ReplyDelete