APPLE INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 190.01 |
| Take Profit | 178.45, 174.70 |
| Stop Loss | 192.90 |
| Key Levels | 174.70, 178.45, 192.90, 210.0, 230.50 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 192.95 |
| Take Profit | 210.00, 230.50 |
| Stop Loss | 187.25 |
| Key Levels | 174.70, 178.45, 192.90, 210.0, 230.50 |
The price of the asset is in a correction and a fall is possible.
On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) ended, and a downward correction formed as the second wave 2 of (5). Now, the third wave 3 of (5) has started, within which the entry first wave of the lower level i of 3 has formed, and a local correction is developing as the second wave ii of 3. If the assumption is correct, the price of the asset will fall to the area of 178.45–174.70. In this scenario, critical stop loss level is 192.90.
Main scenario
Short positions will become relevant below the level of 192.90 with the targets at 178.45–174.70. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 192.90 will let the asset grow to the area of 210.00– 230.50.
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