01 Dec

AAPL Is The Ending Diagonal Not Complete Yet?

December 1, 2021

By Orbex

AAPL

AAPL shares seem to be forming a primary fifth wave, taking the form of an ending diagonal of the intermediate degree (1)-(2)-(3)-(4)-(5). This wave is also the final one in the cycle impulse a.

It is likely that at the moment we are in the intermediate wave (3). This wave is taking the form of a double combination W-X-Y. An actionary wave Y is necessary to complete the specified pattern.

Bulls in the minor wave Y can send the market to the level of 174.48, which is on the resistance line. And then the price could fall within the correction (4) to the support level of 138.14, as shown on the chart.

AAPL

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An alternative scenario suggests that the ending diagonal has fully completed its pattern, and the cycle impulse wave a has also come to an end.

If that is the case, then in the upcoming trading weeks market participants will see a collapse in prices in a cycle correction b. This correction may take the form of a standard zigzag Ⓐ-Ⓑ-Ⓒ.

There is a high probability that the bears will be able to bring the market to the previous low of -115.79, where the primary fourth correction ended earlier.

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