Looks like Apple might be running out of juice.
Updated
Apple is a bit tough one to do as there are more than 2 possible scenarios with similar probabilities . I have counted it on weekly frame first to get a proper view of the possible larger trend. Taking this whole movement (from ATL to ATH) as a larger wave 1 , its pretty obvious that we have a long way to go down before we see any significant break upwards, unless there's something like buybacks taking place. Although I am confident about the count but it will be crucial to observe the price action from this point i.e it'll be just a bounce or it gives an impulse up.
Hidden bullish divergence with RSI on the weekly confirms the probable movement up. My targets for this potential bounce for a potential X are between USD 185-200.
It is very important to note that this majority of this recent trend went up on decreasing volume and 'volume precedes price' so all of it points towards commencement of a bear trend sooner or later.
This hyperwave 1 had a 3rd wave extension so i'll be aiming for 0.618 retracement level of the whole movement as my mid-long term target but that can change as the market evolves to overcome its inefficiencies.
Strong break above USD 240 range would mean that this wave 5 needs to be recounted.
This count would still be valid if it doesnt break the ATH with increased buy pressure as it can then be counted as a running or extended flat , whichever is the the outcome.
Remember , this is not a financial advice and just my view regarding possible future price action.Get your own views and trade on them.
Thank you
Hidden bullish divergence with RSI on the weekly confirms the probable movement up. My targets for this potential bounce for a potential X are between USD 185-200.
It is very important to note that this majority of this recent trend went up on decreasing volume and 'volume precedes price' so all of it points towards commencement of a bear trend sooner or later.
This hyperwave 1 had a 3rd wave extension so i'll be aiming for 0.618 retracement level of the whole movement as my mid-long term target but that can change as the market evolves to overcome its inefficiencies.
Strong break above USD 240 range would mean that this wave 5 needs to be recounted.
This count would still be valid if it doesnt break the ATH with increased buy pressure as it can then be counted as a running or extended flat , whichever is the the outcome.
Remember , this is not a financial advice and just my view regarding possible future price action.Get your own views and trade on them.
Thank you
Note
Regular bullish divergence appearing on the daily.
Still not impressed with the resulting price action so it might go a bit lower to that Horizontal support line at USD 160 level to give a triple divergence or something like that.
I have already mentioned my targets for a larger X up after completion of this larger W which itself is a WXY on the smaller frames.
Note
This count has an extended wave Y on the smaller degree which means that the retail is selling hard into it, JMO! So it is possible that it goes for a deep wave X which might bring up the possibility of running/extending price action. Still i'll stick to my initial targets for this larger X i.e 38.2%-50% retracement and wait on to see how it unfold from that point onwards.
Note
Ascending broadening wedge in the large 5th . Makes up good case for my potential large X , which can also be seen as a throwback for this wedge breakdown.
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