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Limit5BassJanuary 4, 2018 at 8:10 pm #30787
Let’s start off the charts with one for Apple. This chart is from an Elliott Wave perspective. This chart illustrates AAPL’s current Bullish Impulse Wave pattern since it began its new uptrend. While I did not label them, I did show how Waves 1, 3 and 5 are subdivided into smaller Impulse wave patterns. Those smaller Impulse wave patterns can even be subdivided again into even smaller Impulse wave patterns. This is the classic example of how Impulse wave patterns build off one another and then turn into larger wave patterns.
Wave 5 of the Impulse wave pattern seems to be in progress at the moment. Wave 5 also represents the end of the uptrend. The target for Wave 5 appears to be the $185 area. I say that because the uptrend will have reached the 261.8% Target Line for the overall uptrend and also the 161.8% Target Line from the green Fibonacci Extension Tool that was placed at the start of Wave 5.
If the $185 area is broken, a quick move could be made towards the $200 – $208 price level. But if you are one of the lucky ones that still holds shares, the $185 area and above seems to be a good place to lock in some gains. At least with non-core positions.
AAPL – Apple
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