Intraday Elliott Wave view on Apple (AAPL) forecasting support zone [Video]
|Short term Elliott Wave view on Apple (AAPL) suggests that the stock shows a bullish sequence from 8.5.2024 low favoring more upside. Rally from 8.5.2024 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from there, wave ((1)) ended at 232.92 and wave ((2)) pullback ended at 213.92 as the 1 hour chart below shows. Internal subdivision of wave ((2)) unfolded as a zigzag Elliott Wave structure. Down from wave ((1)), wave (A) ended at 217.48 and rally in wave (B) ended at 224.59. Wave (C) lower ended at 213.94 which completed wave ((2)) in higher degree. The stock has turned higher in wave ((3)).
Up from wave ((2)), wave 1 ended at 217.22 and pullback in wave 2 ended at 214.50. The stock has extended higher in wave 3. Up from wave 2, wave ((i)) ended at 216.9 and pullback in wave ((ii)) ended at 215.05. Wave ((iii)) higher ended at 222.71 and pullback in wave ((iv)) ended at 218.93. Final leg wave ((v)) ended at 229.82 which completed wave 3 in higher degree. Pullback in wave 4 ended at 227.11. Final leg wave 5 ended at 233.09 which completed wave (1).
Wave (2) pullback is now in progress to correct cycle from 9.16.2024 low with internal subdivision as a zigzag structure. Down from wave (1), wave A ended at 227.35 and wave B ended at 229.45. Expect wave C lower to complete at 220.2 – 223.73 area and this should also end wave (2) in higher degree. Afterwards, expect the stock to turn higher from the blue box area.
Apple (AAPL) 60 minutes Elliott Wave chart
Apple (AAPL) Elliott Wave [Video]
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