Apple Inc - Time to Close Long Positions?

2022年4月26日

Is it time for the giant Apple to finish its exponential growth cycle and move to a lengthy correction period?

Fundamentally: all the indicators are strong but the risk of recession may be one of the factors for the company to reflect this in the forecast so all eyes on the upcoming report

Technically:

• Following the Ascending Triangle that lasted for over a year the price is moving very choppy which suggests that Ending Diagonal is developing
  
• The lower timeframe suggests that possibly there is one last upward move left to update the high which will complete the Diagonal
  

What's next - given that the last correction was nearly 400 days, the next one will be even longer. The shape and depth will be clear during the development but it's likely for the price to test levels of $134 (0.382x Fibonacci retracement) or even $118 which is 0.5x.

Let's wait for the report and it will be more clear if the proposed scenario is plausible.

Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.

Thanks

2022年5月15日

注释

Update to this idea