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

The Current War Between China And The United States Over Semiconductor Chips Is Gaining Momentum

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

 

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.

Apple Stock Price

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).

Tech Stocks: Apple Stock Price (APPL) - Bulls May Reach Almost $190! - 2

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.

The Current War Between China And The United States Over Semiconductor Chips Is Gaining Momentum

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.