Elliott Wave Forecast: Apple Stock (AAPL) Expect Weakness Continues After A Corrective Bounce

Short term Elliott Wave View in Apple Inc., (AAPL) suggests that cycle from 12.05.2022 high was ended at 140 low as wave 1 as 5 waves impulse Elliott Wave structure. While above there, it starts bouncing in proposed 7 swing correction, which expect to fail below 150.90 high of wave (2) to resume lower. It ended (2) at 150.90 high in proposed 3 swing bounce started from 11.29.2022 low of (1). While below there, it expect weakness to continue in (3) as it is showing lower low in wave 1 below 11.29.2022. The further weakness will confirm once it breaks below 10.13.2022 low on higher degree sequence.

AAPL ended (2) at 150.90 high and below there, it is showing a clear 5 swings lower as wave 1. It placed ((i)) at 145.77 low and ((ii)) at 147.61 high as 0.382 Fibonacci retracement. Below ((ii)) high, it placed ((iii)) at 140.47 low. It favored ended ((iv)) higher at 143.37 high.

Finally, it ended ((v)) at 140 low as wave 1. While above there, it is showing a corrective bounce in 3 swings higher as ((w)) leg, which ended at 145.57 high. While below there, it appears 3 swing pullback as ((x)) leg, which ended at 141.06 low.

Currently, it favors a bounce in (a) of ((y)) leg. ((y)) will confirms above ((w)) high, while dips remain above ((x)) low. Ideally, (a) leg expect to extend between 145.41 – 114.59 area before pulling back in (b) leg followed by another leg higher in (c) of ((y)) to finish wave 2 correction. Ideally, ((y)) leg expect a bounce towards 148.04 – 150.17 area to finish wave 2 and should fail below (2) high of 150.90 to resume lower in wave 3. Further weakness in wave 3 will confirms below 140 low of wave 1.

AAPL 45 Minutes Elliott Wave Chart

Elliott Wave Forecast: Apple Stock (AAPL) Expect Weakness Continues After A Corrective Bounce

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