We're currently sitting at the lower boundary of a large descending channel on AAPL in the daily timeframe.
After completing what appears to be a 5-wave Elliott bearish structure, the price made a strong bullish rebound. Since then, it has been consolidating in a mid-range zone, forming an ascending triangle, which could signal a continuation of the recent bullish move.
At the current price level, we can identify two key bullish patterns:
An ascending wedge (or "púa")
An ascending triangle
Both patterns are developing around the 0.78 Fibonacci retracement level of the last major bearish impulse — a critical zone. A breakout above this level could imply structural damage to the previous downtrend and open the door to a potential long setup.
🎯 Target zone: 232.00 – 235.00
Keep an eye on volume and breakout confirmation.
After completing what appears to be a 5-wave Elliott bearish structure, the price made a strong bullish rebound. Since then, it has been consolidating in a mid-range zone, forming an ascending triangle, which could signal a continuation of the recent bullish move.
At the current price level, we can identify two key bullish patterns:
An ascending wedge (or "púa")
An ascending triangle
Both patterns are developing around the 0.78 Fibonacci retracement level of the last major bearish impulse — a critical zone. A breakout above this level could imply structural damage to the previous downtrend and open the door to a potential long setup.
🎯 Target zone: 232.00 – 235.00
Keep an eye on volume and breakout confirmation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.