Apple Elliott Wave Analysis suggesting a Bounce Higher
Hello Traders,
Apple decline from 10/03 peak (233.43) ended black wave ((W)) at 10/11 low (211.94). Above from there it ended black wave ((X)) pullback at 10/24 peak (224.16). Down from there it ended smaller degree blue wave (W) at 10/29 low (206.17) as flat structure in a lesser degree. Above from there it ended blue wave (X) pullback at 11/01 peak (223.48).
Down from there, it reached already the equal legs extreme area from 10/03 peak towards 202.48-197.31 (blue box) which is 100%-123.6% Fibonacci extension area of black wave ((W))-(X)). It is currently suggesting that it ended black wave ((Y)) of bigger picture red wave IV at 11/05 low (198.12) as a Elliott Wave double three structure. As long as the stock stays above 198.25 but more importantly the pivot at 189.32 stays intact we expect it to extend higher. We dont like selling it.
Apple decline from 10/03 peak (233.43) ended black wave ((W)) at 10/11 low (211.94). Above from there it ended black wave ((X)) pullback at 10/24 peak (224.16). Down from there it ended smaller degree blue wave (W) at 10/29 low (206.17) as flat structure in a lesser degree. Above from there it ended blue wave (X) pullback at 11/01 peak (223.48).
Down from there, it reached already the equal legs extreme area from 10/03 peak towards 202.48-197.31 (blue box) which is 100%-123.6% Fibonacci extension area of black wave ((W))-(X)). It is currently suggesting that it ended black wave ((Y)) of bigger picture red wave IV at 11/05 low (198.12) as a Elliott Wave double three structure. As long as the stock stays above 198.25 but more importantly the pivot at 189.32 stays intact we expect it to extend higher. We dont like selling it.
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