APPLE INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 219.82 |
| Take Profit | 200.15, 191.80 |
| Stop Loss | 236.30 |
| Key Levels | 191.80, 200.15, 236.30, 260.00, 280.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 236.35 |
| Take Profit | 260.00, 280.00 |
| Stop Loss | 228.45 |
| Key Levels | 191.80, 200.15, 236.30, 260.00, 280.00 |
The price is in a correction, a fall is possible.
On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) formed, a correction ended as the second wave 2 of (5), and the third wave 3 of (5) forms. Now, the first wave of the lower level i of 3 has formed, and a 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 200.15– 191.80. In this scenario, critical stop loss level is 236.30.
Main scenario
Short positions will become relevant below the level of 236.30 with the targets at 200.15– 191.80. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 236.30 will let the asset grow to the area of 260.00–280.00.
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