Just7ce

What's the Intrinsic value of AAPL??

NASDAQ:AAPL   Apple Inc
Elliot wave suggests we have completed a "5" wave up formation, and I am expecting to see at least a "3" wave down correction. It's definitely overvalued even at the current price and the upside is very limited. Federal reserve really pushed literally every stock up quicker than expected. Long-term $AAPL will be complete of fine but in the next couple of months, I highly doubt it. Earning will be coming out this week, I do expect it to do good, as all earning seems to be during the pandemic no surprise there. Nonetheless, I see $AAPL coming down to the $87-$85 at least. We should see if start to bottom there, and continue the longer-term uptrend.

Comments

You can clearly see there are only "3" waves up completed - Primary wave ((1)) on 2/12, Primary wave ((2)) on 3/20, and Primary wave 3 on 8/28. We completed Primary wave "4" bottom at 103.10, and now we are in the run up on Primary wave "5" to new ATH from that bottom on 9/18.

We completed Intermediate wave (1) on 10/12, Intermediate wave (2) today 10/26, and are starting Intermediate wave (3). While above 113 lows from today, 127.33-131.26 will be 0.618-0.786 extension for wave (3) (in case of diagonal, also more defensive target) and 136.26-150.72 which is 1.0-1.618 extension and higher for wave (3) (in case of an impulse). Then, there will be a dip in Intermediate wave (4) which cannot be measured until the top is in for Intermediate wave (3). Then, the final wave will continue upward to complete Primary ((5)).
+1 Reply
Just7ce thebrewer35
@thebrewer35, Maybe. I see 9/18 low eventually breaking, much more correction to come.

Nice analysis btw.
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@Just7ce, Thank you. I see 9/18 low breaking by EOY. I expect a run up to new ATH then a downturn that will break below 9/18 low - headed towards 95 or lower. That gap will be filled.
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Just7ce thebrewer35
@thebrewer35, For sure, what's your input on Tesla?

Reply
@Just7ce, Similar view in TSLA, bottom of Intermediate wave (2) of Primary wave ((5)) on 9/11. It just hit the bottom of the (X) in a WXY pattern today and should bounce up from here and continue to run up for the next month or so, with ups/downs just like AAPL.
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