FinnReilly2f
Short

Potential Elliott Target of 200 for AAPL

BATS:AAPL   APPLE INC
206 0 0
The Elliott Wave picture for AAPL             appears to show that it has completed wave 3 and must complete wave 4 before proceeding upwards - typically one of the most likely targets for wave 4 is the price range of wave iv of lesser degree, which in this case would give a target of at most 200.

Moreover, an equality projection of wave a of 4 from the (possible) end of wave b of 4 (this does not look like an equality projection due to the log scale) suggests that wave 3 could retrace as much as 78.6% of its length. An alternative 0.382 projection from wave b would also form confluence with the 0.5 retracement of wave 3, giving an alternative target of 329-340. A look at the daily chart shows wave 4 apparently subdividing into 5,3,5, (the first 5 and 3 look to have completed) suggesting a sharp zigzag correction with further downside.

As this is an Elliott pattern that lacks any triangles or wedges , features that improve the objectivity of wavecounts, i would advise caution when applying this idea - I will personally not be shorting based on this pattern, but I will certainly be keeping my eyes peeled for buying opportunities next year.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out