Apple Wave Analysis 6 August 2024

– Apple reversed from support zone

– Likely to rise to resistance level 210.00

Apple recently reversed up from support zone located between the support level 197.90 (former Double Top from 2023), 20-week moving average and the 50% Fibonacci correction of the weekly uptrend from April.

The upward reversal from this support zone stopped the previous weekly impulse wave (1) from July.

Given the clear uptrend that can be seen on the daily and the weekly charts, Apple can be expected to rise further toward the next resistance level 210.00.