AAPL Keeping The Momentum & Reacting Higher From Blue Box Area
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In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of (AAPL) . We presented to members at the elliottwave-forecast. In which, the rally from 04 December 2023 low is unfolding as an ending diagonal structure. Showing a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
AAPL 1-Hour Elliott Wave Chart From 12.17.2023 Weekend Update
![AAPL Keeping The Momentum & Reacting Higher From Blue Box Area](https://barchart-news-media-prod.aws.barchart.com/IF/6d99b172fd166ca10c91c3241924f589/aapl-1h20231217084801.png)
Here’s the 1-hour Elliott wave chart from the 12/17/2023 weekend update. In which, the short-term cycle from the 11/12/2023 low ended in wave 3 of a diagonal at $199.62 high. Down from there, the stock made a pullback in wave 4 to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((a)) ended at $196.16 low. Wave ((b)) bounce ended at $198.77 high and wave ((c)) managed to reach the blue box area at $195.31- $193.16. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
AAPL Latest 1-Hour Elliott Wave Chart From 12.19.2023 Post-Market Update
![AAPL Keeping The Momentum & Reacting Higher From Blue Box Area](https://barchart-news-media-prod.aws.barchart.com/IF/6d99b172fd166ca10c91c3241924f589/aapl-1h20231218184134.jpg)
This is the latest 1-hour Elliott wave Chart from the 12/19/2023 Post-Market update. In which the stock is showing a reaction higher taking place, right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $199.62 high is still needed to confirm the next extension higher & avoid a double correction lower.
Source: https://elliottwave-forecast.com/stock-market/aapl-keeping-momentum-reacting-higher/
On the date of publication, Elliott Wave Forecast did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.