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A bullish idea for AAPL for NASDAQ:AAPL by StockStork

Hello everyone and welcome to my AAPL idea.

After a long analysis of this stock, I can conclude that the price will go up in the next weeks and I will explain why.

Going to the daily chart , I can see the intermediate impulse (the one labeled with parenthesis) completing the 4th wave and going for the fifth. This third wave is exactly more than 1.618 wave 1 and it verifies the extension on the third wave.
More, we have on the 4th wave a contracting triangle (in the triangle each wave is in 0.618 proportion according to the Elliott theory) while in the 2nd wave we have a sharp correction. So we have also a verification about the alternation, according to the Elliott theory. So, at this point, we can expect a longer wave 5 that is 1 of the first wave. For this reason, I drown the blue horizontal line.

We can also swift from the break of the triangle to find a first take price level.

Eventually, if we make the retracement from the start of this wave to the possible two targets, we can see that the 4th wave stays on 0.50 of Fibonacci. So it divides the cycle in the golden section.

If we see the volume , we can see that in this cycle the volumes are so high. So this let me think that we are in a third wave.

Talking about fundamental analysis , we know that in a while they will release new products. This can justify this increment of price.

Anyway… we will see in the next few days if this is true.

Stay tuned!

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