Could Apple Stock Price Plunge To $118!? What's Possibly Ahead Of APPL?

Could Apple Stock Price Plunge To $118!? What's Possibly Ahead Of APPL?

Could Apple Stock Price Plunge To $118!? What's Possibly Ahead Of APPL?

The current structure of AAPL shares suggests the development of the primary fifth wave, taking the form of an ending diagonal (1)-(2)-(3)-(4)-(5) of the intermediate degree. The wave ⑤ is the last part in the large cycle impulse a.

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, in the near future, the price may start moving in the opposite direction, that is, upwards, 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 189.54. At that level, wave (5) will be equal to wave (3).

Could Apple Stock Price Plunge To $118!? What's Possibly Ahead Of APPL? - 2

Let's look at the second option, where the entire cycle wave a ended at the beginning of this year.

Thus, at the time of writing the review, we see a downward corrective movement of the stock price in a cycle wave b, which can 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 near 118.80. At that level, primary wave Ⓨ will be at 100% of wave Ⓦ.

Jing Ren

Jing Ren

Jing-Ren has extensive experience in currency and commodities trading. He began his career in metal sales and trading at Societe Generale in London. Later on he worked as a senior analyst within the FX brokerage industry where he developed strategies in trading and risk management. With solid understanding of market dynamics he founded Wensfer to offer research and asset management services.