Technical analysis

Apple Wave Analysis 6 February 2024

– Apple reversed from support level 180.00

– Likely to rise to resistance level 197.45

Apple recently reversed up from the strong support level 180.00, which stopped waves A and (b) of the previous ABC correction (2) from the middle of December.

The support level 180.00 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the sharp upward impulse wave (1) from October.

Given the clear daily uptrend, Apple can be expected to rise further to the next resistance level 197.45, previous monthly high from July, December and January.

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