AAPL Weekly Update

Overview: on the update of Feb. 18th, I had the idea that AAPL was very close to the completion of wave 1 and had ~160 as a potential target. I also warned about the breakdown through the hourly ascending channel.

Update: the structure of waves on AAPL are very strange to be honest. I think we have peaked for wave 1 and for wave 2, I am going to consider 2 scenarios. One scenario (red path) is that we have already bottomed for wave 2 (note that the 0.414 retracement of wave 1 was 143.63 and the bottom for wave 2 was 143.54, nice reaction!) and wave 3 has started. This wave 3 would be a multi-month rally that will take AAPL to ~200.

The second scenario (green path) is that we are still in wave 2 developing as a flat. If that is the case, we go a little higher at this point to peak for wave (II) of c of 2, then we go lower to complete wave c of 2.After that, we launch higher as wave 3. This scenario will generate a target of ~180 for wave 3.

If you study a bit deeper, you see that these 2 scenarios have the exact same structure up to this point, which make them equally valid. We will know very soon which scenario is playing out.