Can Apple become the market savior? Is it able to help the panic to be over? Lets follow !
Previous Monday we saw the large money inflow by hedge funds which pushed it back to positive territory after near 5 % fall in NDX 100 , then panic returned to the market after Jerome Powell's speech and finally exceptional earning report of Apple brought the positive sentiment back to the market ! Can Apple continue the bull run? Lets follow !.
After making a new ATH at 182.9 and exceeding the 3 trillion USD market cap, AAPL started a corrective ABC from of decline down to 154.70 low where it found a support which was really strong. As shown on the chart, this strong support formed by : 0.382 Retracement of wave 3 , 0.618 Retracement of circled wave V and static support corresponding to top of circled wave iii . We can add also 100 days moving average to see the support even stronger.
In broader view, AAPL is possibly completing wave 5 of a wave cycle started at 103.1 on 21th Sep 2021. This final wave 5 may push the price up to around 200 USD. Going through details of this wave cycle, We find out we have an extended circled wave v of 3. This wave 5 extension happened for many other stocks like MSFT and AMD and indexes as well.
In upper left side of the chart, I showed a schematic drawing of an extended wave 5 and it's typical related Retracement amount and pattern. As it is clear , Apple beautifully resembles this pattern. Another supportive point for the analysis !.
What is shown on the chart, is normal scenario. There may be some more optimistic and pessimistic scenarios whit higher and lower targets but, We just kept them away from the chart to make it clean. Should it need any update, We will do it later.
Stochastic indicator has made a bullish reversal at oversold zone, Body of last candle well closed above the down trend line and is now inside the territory of decline form ATH to 168.17 which may be wave A of the possible ABC form of correction which is another positive sign.
Despite all above positive and bullish signs, AAPL may choose completely different path than we are expecting therefore, we have to set our stop loss objectively ( Which is the last formed low at 154.7) and stick to it. We know after an ABC form of correction, Stocks can take many various complicated forms.
We do not know how market continues it's path however, we can see the signs, make our analysis and take a position. If somebody fears of taking a long position ( of course with an objective stop loss) for this setup because of bad news everywhere or panic , he/ she would better to leave the world of trading. Risk is always is with us in trading and the best thing we can do is to manage our risks.
Good luck every one and wish you huge profits.
Previous Monday we saw the large money inflow by hedge funds which pushed it back to positive territory after near 5 % fall in NDX 100 , then panic returned to the market after Jerome Powell's speech and finally exceptional earning report of Apple brought the positive sentiment back to the market ! Can Apple continue the bull run? Lets follow !.
After making a new ATH at 182.9 and exceeding the 3 trillion USD market cap, AAPL started a corrective ABC from of decline down to 154.70 low where it found a support which was really strong. As shown on the chart, this strong support formed by : 0.382 Retracement of wave 3 , 0.618 Retracement of circled wave V and static support corresponding to top of circled wave iii . We can add also 100 days moving average to see the support even stronger.
In broader view, AAPL is possibly completing wave 5 of a wave cycle started at 103.1 on 21th Sep 2021. This final wave 5 may push the price up to around 200 USD. Going through details of this wave cycle, We find out we have an extended circled wave v of 3. This wave 5 extension happened for many other stocks like MSFT and AMD and indexes as well.
In upper left side of the chart, I showed a schematic drawing of an extended wave 5 and it's typical related Retracement amount and pattern. As it is clear , Apple beautifully resembles this pattern. Another supportive point for the analysis !.
What is shown on the chart, is normal scenario. There may be some more optimistic and pessimistic scenarios whit higher and lower targets but, We just kept them away from the chart to make it clean. Should it need any update, We will do it later.
Stochastic indicator has made a bullish reversal at oversold zone, Body of last candle well closed above the down trend line and is now inside the territory of decline form ATH to 168.17 which may be wave A of the possible ABC form of correction which is another positive sign.
Despite all above positive and bullish signs, AAPL may choose completely different path than we are expecting therefore, we have to set our stop loss objectively ( Which is the last formed low at 154.7) and stick to it. We know after an ABC form of correction, Stocks can take many various complicated forms.
We do not know how market continues it's path however, we can see the signs, make our analysis and take a position. If somebody fears of taking a long position ( of course with an objective stop loss) for this setup because of bad news everywhere or panic , he/ she would better to leave the world of trading. Risk is always is with us in trading and the best thing we can do is to manage our risks.
Good luck every one and wish you huge profits.
Komentarz:
Seems that we are in the right direction.
