Apple Wave Analysis 17 October 2024

– Apple reversed from key resistance level 237.00

– Likely to fall to support level 227.00

Apple recently reversed down from the key resistance level 237.00 (which stopped the previous sharp impulse wave (1) in the middle of July) standing well above the upper daily Bollinger Band.

The downward reversal from the resistance level 237.00 created the daily Japanese candlesticks reversal pattern Shooting Star Doji.

Given the strength of the resistance level 237.00 and the bearish divergence on the daily Stochastic, Apple can be expected to fall further to the next support level 227.00.