Apple Inc.: wave analysis 12 August 2019, 09:59

Apple Inc.: wave analysis

12 August 2019, 09:59

Scenario
Timeframe	Weekly
Recommendation	SELL
Entry Point	201.12
Take Profit	171.08, 158.41
Stop Loss	221.07
Key Levels	158.41, 171.08, 221.07, 250.00, 264.50

Alternative scenario
Recommendation	BUY STOP
Entry Point	221.10
Take Profit	250.00, 264.50
Stop Loss	211.45
Key Levels	158.41, 171.08, 221.07, 250.00, 264.50

The price may fall.
On the 4-hour chart, the fifth wave of the higher level (5) develops, within which a correction forms as the wave 2 of (5). Now, the wave b of 2 has formed, and the development of the wave c of 2 has begun, within which the first wave of the lower level (i) of c has formed, and the local correction (ii) of c is developing. If the assumption is correct, the price will fall to the levels of 171.08–158.41. In this scenario, critical stop loss level is 221.07.


Main scenario
Short positions will become relevant during the correction, below the level of 221.07 with the targets at 171.08–158.41. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 221.07 will let the price grow to the levels of 250.00–264.50.