Short term Elliottwave structure suggests wave (W) dips to $89.47 ended cycle from 4/15 peak. From there, Apple is in wave (X) bounce to correct the decline from 4/15 peak. Internal structure of wave (X) bounce is unfolding as a double three where wave W ended at $95.21, and wave X ended at $93.54. While wave (x) dips stay above $93.54, Apple has scope to make another push higher towards $99.32 – $100.68 area to complete wave (X) bounce before the decline resumes. We don’t like buying the proposed push higher in wave (X). As far as 4/15 pivot at 112.39 remains intact in the bounce, we expect Apple to find sellers from $99.32 – $100.68 area and turn lower either to new lows or at least pullback in 3 waves.
At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offerBack