Forex Trading Library

AAPL: The Double Three Is Complete. We Are Waiting For A Fall In The New Trend.

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Chart of AAPL

Today we will consider the situation on AAPL shares. Apparently, the market is forming a correction pattern – a cycle zigzag a-b-c.

Correction b is being built now. It has the form of a double zigzag Ⓦ-Ⓧ-Ⓨ of the primary degree. It is assumed that the formation of the horizontal intervening wave Ⓧ, which took the form of a double three, has come to an end.

In the near future, the development of the actionary wave Ⓨ is expected, which may take the standard form of a zigzag (A)-(B)-(C). The first impulse leg may end near the minimum of 143.59.

Chart of AAPL

Alternatively, it is assumed that the formation of a cycle correction b has already been fully completed, and since the beginning of this year, the market has been moving up within the cycle wave c.

Judging by the internal structure, wave c may take the form of a primary impulse ①-②-③-④-⑤. The first two parts of this pattern are fully completed, and now the price is growing in the primary impulse ③.

Most likely, the bulls will send the market to the 200.47 mark. At that level, impulse ③ will be at 161.8% of wave ①.

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