Apple (AAPL): A Strong Buy Opportunity

In this analysis, I will be taking a purely technical approach to Apple ( AAPL ), and why this might be a good buy opportunity.

- To begin with, we can see that the stock is moving in an overall uptrend
- It has completed a textbook Elliott Impulse Wave (12345) count, and has been consolidating in a bullish pennant structure
- Within the triangle, we can count Elliott Triangle Waves (ABCDE), with the final wave having completed
- The Relative Strength Index ( RSI ) has been flushed out from overbought levels
- The Stochastic Oscillator shows a golden cross, with potential for a breakout to take place very soon
- Prices have bounced on the 100 Simple Moving Average ( SMA ), and is trading above the 20 SMA as well
- Based on the Fibonacci retracement , prices are trading above the 0.382 support.
- If we can see a breakout and close above the 0.786 fib resistance at $130, we could potentially create a new all time high level

If you like this analysis, please make sure to like the post, and follow for more quality content!
I would also appreciate it if you could leave a comment below with some original insight :)


Great call Michael! I owe you a beer.
@welf, Cheers man! Glad this helped :)
Solid analysis thanks man 1
@jorgewerner, Thank you for the support Jorge!
Michael, thanks for sharing. AMZN appears to have a similar set-up, although the pennant may be broader (indicating less strength in potential breakout).
@Build2Grow, Sure thing! I'll look into it. Thanks for commenting!
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