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Elliott Wave View: Apple in Zigzag Correction

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Short Term Elliott Wave view in Apple (AAPL) suggests that cycle from February 13, 2020 high has ended at 212.6 low as wave w. Internal of wave a unfolded as adouble three Elliott Wave structureDown from February 13 high, wave (W)) ended at 256.37 and wave ((X)) bounce ended at 304.15. The Index then resumed lower in wave ((Y)) towards 212.6 which also ended wave w in larger degree. This move ended the cycle from February 13 high.

Stock is now correcting cycle from February 13 high within wave x. The correction is unfolding as a zigzag Elliott Wave structure where wave ((A)) of this zigzag has ended at 259.9. Internal of wave ((A)) unfolded as 5 waves impulse where wave (1) ended at 227.1 and pullback in wave (2) ended at 217.02. Stock then resumes higher in wave (3) towards 243.44 and wave (4) pullback ended at 236.54. Finally, last move higher in wave (5) of ((A)) ended at 259.90.

Wave ((B)) pullback is now in progress to correct cycle from March 23 low in 3, 7, or 11 swing before the rally resumes. While pivot at March 23 low (212.6) stays intact, expect the stock to extend higher.

Apple (AAPL) 1 Hour Elliott Wave Chart

APPL 26 March

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About the author  (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 42 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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