Apple Inc.: wave analysis
29 March 2018, 09:59
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 166.46 |
| Take Profit | 195.00 |
| Stop Loss | 156.95 |
| Key Levels | 150.06, 161.70, 195.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 161.60 |
| Take Profit | 150.06 |
| Stop Loss | 165.45 |
| Key Levels | 150.06, 161.70, 195.00 |
The correction is ending. The growth of the price is expected.
On the 4-hour chart, the downward correction has formed as a fourth wave (4) of the higher level. Now the development of the fifth wave (5) has begun, within which the first wave 1 of (5) is formed, and the development of the local correction of the lower level 2 of (5) has ended. If the assumption is correct, the price will grow to the level of 195.00. The level of 161.70 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 161.70 with the target at 195.00.
Alternative scenario
The breakdown and the consolidation of the price below the level of 161.70 will let the price go down to the level of 150.06.
On the 4-hour chart, the downward correction has formed as a fourth wave (4) of the higher level. Now the development of the fifth wave (5) has begun, within which the first wave 1 of (5) is formed, and the development of the local correction of the lower level 2 of (5) has ended. If the assumption is correct, the price will grow to the level of 195.00. The level of 161.70 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 161.70 with the target at 195.00.
Alternative scenario
The breakdown and the consolidation of the price below the level of 161.70 will let the price go down to the level of 150.06.
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