On the 1H timeframe of AAPL, we can notice the construction of a primary fifth wave. This takes the form of an ending diagonal of the intermediate degree (1)-(2)-(3)-(4)-(5).
Currently, the intermediate correction wave (4) ended as a minor triple zigzag W-X-Y-X-Z.
Thus, now the price is moving higher in the intermediate wave (5). Wave (5), judging by the structure, could take the form of a minor double zigzag W-X-Y. The first two zigzag sub-waves W and X have ended.
It is possible that prices in the final minor wave Y will go to 189.27. At that level, wave (5) will be equal to wave (3).
However, the cycle wave a could have ended. Thus, let’s consider an alternative scenario.
Here we see a downward corrective movement of the stock in a cycle wave b. This could take the form of a double zigzag of the primary degree. It seems that the first two primary sub-waves Ⓦ-Ⓧ have already been formed.
There is a high probability that prices in the final sub-wave Ⓨ will fall to 121.84. At that level, primary wave Ⓨ will be at 100% of wave Ⓦ.
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