Home Trading APPL Double Zigzag Breaks Fresh Lows!

APPL Double Zigzag Breaks Fresh Lows!


chart of Apple

The formation of a correctional trend for APPL stock continues. This appears as a 3-wave ZIGZAG of the cycle degree A-B-C.

A complex correction b is currently under development, the structure of which hints at the primary double zigzag Ⓦ-Ⓧ-Ⓨ. The actionary leg Ⓦ and the intervening zigzag wave Ⓧ look complete.

The final primary wave Ⓨ takes the form of an intermediate zigzag (A)-(B)-(C).

In the immediate future, the price may rise to 150.48. Intermediate correction (B), at that level, will be 50% of impulse (A).

chart of Apple

In an alternative scenario, the bearish primary wave Ⓨ is more complex in structure. This can be described as an intermediate double zigzag (W-(X))-(Y). The intermediate waves W and (X), could be already fully completed.

Consequently, the market is currently experiencing the last impulse wave C.

The price of impulse C could drop to 108.48. At that level, wave Ⓨ will be at 123.6% of wave Ⓦ.

The post APPL Double Zigzag Sets New Lows This article was first published on Orbex Forex Trading Forum.

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