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Understanding the Elliott Wave: AAPL’s Long Term Analysis
In the world of trading and investments, understanding market trends is key to success. One popular method investors use is the Elliott Wave Principle. This article aims to provide an insightful analysis of the AAPL (Apple Inc.) stock using the Elliott Wave perspective and the long term observations made on November 15, 2023.
The Elliott Wave Principle
According to Ralph Nelson Elliott, the market prices unfold in specific patterns called waves.
“The Wave Principle is Ralph Nelson Elliott’s discovery that social, or crowd, behavior trends and reverses in recognizable patterns.” – Ralph Nelson Elliott
Elliott Wave
Understanding these wave patterns can help investors anticipate price movements. Let’s delve into how this principle applies to AAPL.
AAPL’s Wave 1
The AAPL’s first wave began at 124 and peaked at 198. This significant rise represented a bullish market trend.
AAPL Wave 1: 124 to 198
AAPL’s Wave 2
Wave 2 followed the initial surge, manifesting as a correction phase. This zigzag correction lowered AAPL’s stock price from 198 to 166.
AAPL Wave 2: 198 to 166
The Potential of Wave 3
The third wave in the Elliott pattern often tends to be the longest and strongest. For AAPL, this wave would form if the stock price clears 190 in the following days.
AAPL Wave 3: Forming if it clears 190
Future Predictions: The AAPL Target
Based on the Elliott Wave Principle, if AAPL’s stock price goes 1.618 times the length of Wave 1 in Wave 3, the target would be between 285-300.
AAPL Target: 285-300 if it goes 1.618 X Wave 1 in Wave 3
Conclusion
The Elliott Wave Principle serves as a powerful tool for understanding and predicting market trends. By applying this principle to AAPL’s stock, investors can potentially foresee future price movements. However, it’s essential to remember that market predictions are not always 100% accurate, and investors should always consider other factors and their risk tolerance.
“The Wave Principle is not a market system or theory; it’s a phenomenon that was discovered only after years of intensive study of market behavior.” – Ralph Nelson Elliott
The analysis of AAPL using the Elliott Wave provides an optimistic view of the future for AAPL’s stock, as long as the price clears the 190 mark.
