AAPL Elliott Wave Technical Analysis – 30th May, 2014

Upwards movement continued as wave count expected.

Click on charts to enlarge.

AAPL weekly 2014

Because the downwards wave labeled here cycle wave a subdivides so well as a five wave impulse, with an extended third wave, the correction cannot be over there.

This means that upwards movement from the low at 385.10 should subdivide as a corrective structure and may not move beyond the start of cycle wave a above 705.07.

Cycle wave b may be completing as a double zigzag. The channel drawn about it is a best fit. When this maroon channel is clearly breached by downwards movement I shall have confidence that cycle wave b is over and cycle wave c downwards is underway.

Cycle wave c would be extremely likely to make a new low beyond the end of cycle wave a at 385.10 to avoid a truncation.

AAPL daily 2014

Cycle wave b is incomplete. Within it intermediate wave (C) is unfolding as an impulse.

Because momentum has slightly increased from the low of minor wave 2 I expect that this is most likely minor wave 3. At 673 minor wave 3 would reach equality in length with minor wave 1.

Minor wave 3 may remain within the blue channel.

When minor wave 3 is completed then minor wave 4 should last about three to eight days. It may not move into minor wave 1 price territory below 604.41.

Intermediate wave (C) has already passed equality in length with intermediate wave (A). They may not exhibit a Fibonacci ratio to each other.

When minor wave 4 is completed I would use the ratio between minor wave 5 and either of 1 or 3 to calculate a final target for upwards movement to end.

7 thoughts on “AAPL Elliott Wave Technical Analysis – 30th May, 2014

  1. Dear Lara,

    It appears that minor wave 4 was rather brief (but deep) – only two sessions. I think that wave 5 is underway, but it will be rather brief (minute waves i and ii of 5 lasted about 2.5 hours each) — 3-4 sessions or so — with an upside target of 658-659. Is this what you see too?

    1. Yes, that’s what I see.

      Minor wave 3 has a Fibonacci ratio close to 0.618 the length of minor wave 1.

      If minor waves 3 and 4 are over there then minor wave 5 has a limit. It cannot be longer than minor wave 3 because the third wave may not be the shortest. That limit is at 686.34.

  2. Dear Lara,

    Thank you very much for this update! With the trading data from Fri, could it be that wave (iii) of 3 ended at 644.17, and then wave (iv) of 3 ended at 628.90? I would expect your target of 673 for wave (v) of 3 to be reached next week before the 1:7 stock split on June 6.

    1. I would rather see minute wave iii ending at 629.83 because there it is just 0.26 short of 1.618 X minute wave i.

      After Friday’s red candlestick I think that minor wave 3 may actually have ended earlier than expected.

      If Monday, Tuesday and Wednesday don’t take price significantly higher then that would be my wave count. I would expect that minor wave 3 is shorter then minor wave 1 and minor wave 4 may be unfolding.

      It would still require minor wave 5 to eventually take price higher.

      1. Dear Lara,

        In my humble opinion, minor wave 3 ended on Tue at $95.05 (or $665.35 pre-split). We are in minor wave 4 (most likely an ABC correction) now, with a target between $89.75 (or $628.25) for A, and 85.86 (or $601.02) for C. Perhaps it is going to take more than 10 sessions for this minor wave 4 correction to end. Is this how you see minor wave 4 unfolding?

      2. Dear Lara,

        Could you please provide another update on AAPL. To me, it looks like minor wave 4 ended two days ago and we are in minor wave 5 now. Do you have an upside target for that final wave upwards?

        Thank you!

        1. AAPL had a stock split about a couple of weeks ago and my data feed looked…. totally weird.

          It’s come right just this weekend.

          I have to completely redo my AAPL wave count. This will take some time.

          But… there’s no surf so I should get this done in the next couple of days šŸ™‚

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