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AAPL Elliott Wave Analysis Suggests Selloff Close to Ending

Apple (AAPL) short-term Elliott wave analysis suggests that the decline from $224.23 high, i.e. Primary wave ((X)), is unfolding as a Flat Elliot Wave structure. Down from $224.23, Intermediate wave (A) ended at $206.09, Intermediate wave (B) ended at $223.49, and Intermediate wave (C) is currently in progress.

Internal of Intermediate wave (C) is unfolding as a 5 waves diagonal. Down from $223.49, Minor wave 1 ended at $205.16, Minor wave 2 ended at $213.71, and Minor wave 3 ended at $198.17. Expect Apple to bounce in Minor wave 4 then extend lower 1 more leg in Minor wave 5 towards $189.32 – $197.56 to end a 5 waves down from $223.49 as a diagonal.

Once Apple ends the 5 waves down, it can also end Cycle degree wave IV and complete cycle from Oct 3 peak ($233.47). Afterwards, expect Apple to either rally to new high or at least bounce in larger degree 3 waves to correct the decline from Oct 3 peak. We don’t like selling Apple as it has reached the extreme area from Oct 3, as indicated in the blue box.

AAPL 1 Hour Elliott Wave Chart

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