Technical analysis

Apple Wave Analysis – 05 December, 2019

Apple Wave Analysis – 05 December, 2019
  • Apple rising inside impulse 5
  • Likely to rise to 268.00

Apple recently reversed up from the multi-level support area lying at the intersection of the support level 255.00, lower daily Bollinger Band, upper trendline of the daily up channel from August and the 38,2% Fibonacci correction of the previous impulse wave from October.

The upward reversal from this support area started the active impulse wave 5 – which belongs to wave (C) from May.

Apple is expected to rise further toward the next resistance level 268.00 (top of the previous impulse waves (iii) and 3).

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