As like most stocks and the market indices over the past 2-3 months, also AAPL has been mostly going sideways. Hence, nothing much to report… yawn… Until now, IMHO. Namely, it looks like AAPL is starting to impulse (5 waves pattern) up again: see chart below (click to enlarge). We can count 5 waves up off the May 6 low, with a possible sub-dividing 3rd wave. Using standard fib-extensions we can estimate and project this minute i wave to ideally top at $133.20 to $133.20. If correct, and assuming a 50% retrace for minute ii (down to $128), minute iii, iv and v of minor 5 should then ideally carry price to $146-$148. Please note the red “intermediate iii” label at $145. This is my original target for intermediate iii that I’ve had up there for months now for my premium members. Not a shabby projection if these minute waves come to play as outlined in this post. 😉
FYI: The alternate bullish count is that these are all sets of nested 1,2s with price about to launch higher. Alternate bearish count is that minor 4 is still unfolding, but I find that based on the internal impulsive looking wave count less likely.
ps: This is a copy of only one update of many that I.I.’s premium members received last week. The other updates were on: AMBA, BABA, GILD, HPQ, NFLX, TSLA, and YOKU. Each update is similar to this one, but often much more comprehensive and always include easy to understand, logically deducted through multiple lines of evidence, buy- and sell price target zones. If you want to receive these updates and profitable buy/sell levels, please sign up now: here. Thanks and Aloha, Soul