Short

Possible Monthly Correction - AAPL

Updated

It seems AAPL has completed a 5-wave bullish pattern on the monthly chart. At present, we are at a critical Fib. level with stock overbought. Therefore, it won't be wise to neglect the possibility of at least a short term reversal. Long term investors must keep this in consideration. Will soon be updating a fundamental evaluation of the stock as well.

Trade closed: target reached

Here are the three way that I believe the wave structure can develop. In my opinion, the structure indicated in green is the most likely scenario, but other scenarios are also possible. Now is a good time to close all short positions and start looking for a long entry.

Navdeep_Singh

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