Short Term Elliott Wave analysis of Apple (AAPL) indicates that a pullback to 195.99 has likely ended wave IV, with the stock now moving higher in wave V. In order to confirm this bullish scenario, Apple needs to break above the previous wave III peak at 237.23 on July 15 to rule out the possibility of a double correction. The internal subdivision of the current wave V consists of a 5 waves impulse, with wave (1) ending at 213.5 and wave (2) pulling back to 201.07. This was followed by wave 1 ending at 214.25 and wave 2 ending at 210.64, as the stock nested higher. Subsequent waves 3, 4, and 5 ended at 227.98, 224.80, and 228.34 respectively, completing wave (3).
After completing wave (3), Apple experienced a pullback in wave (4) with a double three Elliott Wave structure. Wave W ended at 223.9, wave X at 228.22, and wave Y at 223.3, marking the completion of wave (4) in a higher degree. The stock has now turned higher in wave (5), with wave 1 ending at 229.86 and wave 2 pulling back to 225.53. Subsequent waves 3 and 4 ended at 232.92 and 229.30 respectively. The expectation is for Apple to complete wave 5, marking the end of wave (5) of ((1)), before pulling back in wave ((2)) to correct the cycle from the 8.5.2024 low in larger degree 3, 7, or 11 swing. In the near term, as long as the pivot at 195.99 low remains intact, any dips are expected to find buyers in 3, 7, 11 swing for further upside potential.
In the 60 minutes Elliott Wave chart of Apple (AAPL), the analysis reveals a clear uptrend with the stock moving higher in wave V after completing wave IV at 195.99. The wave structure suggests that Apple is now in the final stages of wave V, with wave ((1)) nearing completion before a corrective pullback in wave ((2)). The internal subdivision of wave V consists of multiple waves, each with their own highs and lows, indicating a complex pattern that requires careful observation to determine the next potential price movement. The key level to watch for is the previous peak at 237.23, as a break above this level would confirm the bullish outlook for Apple.
The Elliott Wave analysis of Apple (AAPL) is further supported by a video presentation that visually explains the wave patterns and potential price movements in the stock. The video provides a detailed analysis of the wave counts, sub-waves, and key levels to watch for in Apple, helping traders and investors make informed decisions about their positions. By combining both visual and written analysis, investors can gain a comprehensive understanding of the current market outlook for Apple and plan their trading strategies accordingly. The video serves as a valuable tool for those interested in technical analysis and Elliott Wave theory, providing insights into the future direction of Apple’s stock price.
Overall, the Short Term Elliott Wave analysis of Apple (AAPL) suggests that the stock is poised for further upside potential after completing a pullback in wave IV. The current wave V is underway, with internal subdivision indicating a complex pattern that requires careful monitoring to identify potential trade opportunities. The key level to watch for is the previous peak at 237.23, which, if broken, would confirm the bullish scenario for Apple. As long as the pivot at 195.99 low remains intact, any dips are expected to find buyers, supporting the overall bullish outlook for Apple in the near term. Traders and investors should closely monitor the price action and key levels outlined in the analysis to make well-informed decisions about their positions in Apple’s stock.
