Tech Stocks: Apple Stock Price (APPL) - Bulls May Reach Almost $190!

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AAPL (Apple Stock): Wave ⑤ is the final leg in a large cycle impulse a.

As in the previous review, which was a few weeks ago, AAPL suggests the development of the primary fifth wave, taking the form of an ending diagonal (1)-(2)-(3)-(4)-(5) of the intermediate degree. Wave ⑤ is the final leg in a large cycle impulse a.

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Most likely, the market has completed the construction of an intermediate correction (4) in the form of a minor triple zigzag W-X-Y-X-Z.

Thus, now the price is moving up, in the intermediate wave (5). It is assumed that wave (5) will take the form of a standard zigzag A-B-C, as shown on the chart, where wave A is a minute impulse.

It is possible that the bulls in wave (5) will go to 189.34. At that level, wave (5) will be equal to wave (3).

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Alternative Scenario

An alternative scenario assumes that the cycle wave a is fully completed.

Thus, in the last section of the chart, we see a downward corrective movement of the stock price in a cycle wave b, which may 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 the bears in the final sub-wave Ⓨ, in the form of an intermediate simple zigzag, will be able to bring the market to 118.80. At that level, primary wave Ⓨ will be at 100% of wave Ⓦ.

We will add this pair on our watchlist.