14 Feb

AAPL Ending Diagonal Or Double Zigzag?

February 14, 2022

By Orbex

AAPL

The current formation of AAPL shares suggests the development of the primary fifth wave. This takes the form of an ending diagonal of the intermediate degree (1)-(2)-(3)-(4)-(5). The wave ⑤ is the final part in the cycle impulse a.

It is likely that the market is currently in an intermediate wave (4). Most likely, this wave will take the form of a minor triple zigzag. In fact, more than half of this structure has already been built.

There is a possibility that the price within the correction (4) will fall to the support level of 137.16, located on the lower red line.

After reaching the specified price mark, the market can push off and start moving in the opposite direction in the intermediate wave (5) towards the 195.99 area. At that level, intermediate waves (3) and (5) will be equal.

Free Reports:

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.





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




AAPL

Let’s consider an alternative scenario in which the ending diagonal has fully completed its pattern, and with it the entire cycle wave a has ended.

In the upcoming trading weeks, a sharp decline in the cycle correction b is likely. This could take the form of a double zigzag Ⓦ-Ⓧ-Ⓨ and drop to the previous low of 115.79.

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