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Elliott Forecast

Eric Morera

Elliott Wave View: Apple (AAPL) Rally Should Fail

April 19, 2022 By

Short term Elliott Wave view in Apple (AAPL) suggests the rally to 179.59 ended wave ((X)). Wave ((Y)) lower is currently in progress. The decline from ((X)) peak is unfolding as an . Down from wave ((X)), wave ((i)) ended at 171.94 and rally in wave ((ii)) ended at 178.66. The stock then extends lower again in wave ((iii)) towards 170.13, and bounce in wave ((iv)) ended at 173.48. The last leg lower wave ((v)) ended at 163 and this completed wave A of the zigzag.

Apple then bounced in wave B towards 171.27 with internal subdivision as a zigzag in lesser degree. Up from wave A, wave ((a)) ended at 169.87, pullback in wave ((b)) ended at 166.64, and wave ((c)) higher ended at 171.27 which completed wave B. The stock has turned lower in wave C but it still needs to break below wave A at 163 to rule out a double correction in wave B. Down from wave B, wave ((i)) ended at 163. Wave ((ii)) rally is now in progress to correct the decline from wave B before the stock resumes lower. Near term, as far as wave ((X)) pivot at 179.59 remains intact, expect any rally to fail in 3, 7, or 11 swing for further downside.

Apple 60 Minutes Elliott Wave Chart

AAPL Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-apple-aapl-rally-fail/

#elliottwave #trading #AAPL

19/04/2022 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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