Apple is currently in a retracement from the recent highs, and this correction may not be finished yet. I believe wave C is yet to come, as shown in the latest update on wave structure. It can even come out of a wave B trinagle, which in our case points to interesting support around 240. That level also aligns with the 50% retracement for wave four, making it a key area to watch. So, if someone is looking for new opportunities, this is certainly a zone where the counter trend move could come to an end in the coming weeks.
www.wavetraders.com
A drop below 213 would invalidate the current bullish intermediate structure and would likely signal that wave C of three within an ending diagonal has already been completed.
Highlights
. Wave C of four likely unfolding from recent highs
. 240 is key support, at 50% retracement
. 213 is invalidation level for the bullish intermediate structure
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