The day before the earnings
is registering near the end of the trading session, a drop
of around 2% where some investors are banking profits for the last cycle started in 170 before the news comes to light. In our previous analysis "Is Apple
back to new highs?" posted in March this year, https://thefinancialforecast.com/is-appl...
we showed how the price was moving inside a high probability area where the trend was neutralized and balanced between downward and upward sequences, looking for a test of the upper key level. The first test failed and the shares continued moving inside the non-trend zone. In the second attempt, the key level was broken confirming the new bullish
cycle showed in this graphic. We can see 3 different degrees of waves or cycles with the respective attractors or areas where the price tends to move and where cycles exhaust or correct. The price is currently inside 2 attractors of different degrees, that is why it is no coincidence some investors started to bank some profits here, but the sequence for the higher degree (orange lines) is not finished yet and the bullish trend
is open to the orange attractor. The earnings
will define the investors' mass mood, and a correction for the lower degrees can happen. The bulls will be defeated, opening the correction for a long term cycle at the monthly range of 11 waves with a break of 166.