Wednesday, 13 June 2012

AAPL trending upwards

A few days ago my bullish view on AAPL was posted (visit this link Today I just want to confirm that the wave counts are proceeding according to Elliott wave rules and the bullish scenario is intact.
As can be seen in the 10 minute chart, the stock has made another, lower degree, 5 waves up and 3 waves down at the 50% retracement. For the time being we expect the stock to continue upwards impulsively. First target is previous highs that pose the first resistance level. Below we have support near the 61,8% retracement 564$. It wouldn't be good for bulls AAPL to move below that retracement.

Thank you for taking the time to read this post.

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