Stock Opportunity: Apple · Investor Edge Club

🔥

Stock Opportunity: Apple

Date: 23/06

Apple made a strong base in April around the 245-248 mark with a swing low of 245 being formed on the 7th of April.

Since then, Apple has galloped up around 30% forming a swing high of 317 on the 8th of June.

The current structure that Apple’s price action is following post the swing high is that of a correction. The swing high has been achieved in a perfect impulse leading us to believe that the low of 245 till the high of 317 forms the first impulse of this cycle.

We are now on the lookout for the completion of Wave 2. This pullback should come down in the form of a zig zag corrective and complete 50-61.8% retracement of W1. The chart suggests that we are currently in wave B of 2 with wave A having completed with a low forming at around 288 lvls.

Once wave b (upward pullback) is complete I am expecting a final corrective leg of wave C to play out and bring prices to between 280-270 levels.

This area will be a perfect area to enter into to catch our 3rd wave up with a strict stop loss of 245 (start of impulse). Wave 3 is usually the strongest and most powerful wave of an impulse and the apple chart suggests targets of 360+

This is a great area to add Apple to the portfolio as an investment as well as a great trading opportunity.

Thanks to our member

@Suresh Appayi

for

bringing this opportunity to my notice!

Sharing chart below

14 comments

Stock Opportunity: Apple