08 Nov

AAPL Ending Diagonal Pushes To $200

November 8, 2021

By Orbex

The current AAPL structure shows an ending diagonal of the intermediate degree. In addition, this wave will complete the cycle wave a.

At the moment we are likely in an intermediate wave (3), taking the form of a double combination W-X-Y.

The bulls in the minor wave Y can send the market to the level of 173.33, which is on the resistance line. And then the price could fall within correction (4) to the support level of 138.14.

An approximate scheme of a possible future move is shown on the chart.

Free Reports:

Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




AAPL

An alternative scenario shows the price moving higher in the final wave (5). This is likely to reach the level of 160.94, where wave ⑤ will be at 50% of primary wave ③.

After the completion of the ending diagonal, and with it the cycle impulse wave a, we can expect the AAPL stock to decline. That will be as part of the cycle correction b, below the level of 115.79, marked by the primary wave ④.

Orbex-LogoArticle by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com


investmacro cot newsletter




Financial News Stock Market News