Analyzing Apple Inc. from an Elliott Wave perspective, the stock may have reached its peak at $183.00 and is currently looking for a deep corrective cycle. How did I spot that $183.00 may be the peak? By combining the Elliott Wave principle with the Fibonacci Extension tool, the price managed to break above the 100% level but not above the 161.8% Fibonacci Extension level, and not breaking above the 161.8% level may signal a strong reversal for at least a correction.
Additionally, from a price action perspective, we can spot a rising channel that was broken, hence our first target will be the beginning of the channel around the $108.00 zone. Breaking below this area will push the price towards retesting $81.00 and even $56.00.
From a fundamental perspective, as I said before, I am bearish on stocks in 2022 because of the crisis that I am predicting. In the end, it's either accepting high inflation or a deep recession, or even both if the Fed keeps hiking up rates this slow, and Jersome Powell promising a "soft landing" while increasing rates is nothing but a joke very similar to Ben Bernanke's statement in 2008 about the health of the housing market. The stock market is in a huge bubble and so much air is already coming out!
If you've been holding Apple for a long time, make sure to sell at ATHs because what's coming may be very ugly for the markets.
Goodluck!
M. Y.
Additionally, from a price action perspective, we can spot a rising channel that was broken, hence our first target will be the beginning of the channel around the $108.00 zone. Breaking below this area will push the price towards retesting $81.00 and even $56.00.
From a fundamental perspective, as I said before, I am bearish on stocks in 2022 because of the crisis that I am predicting. In the end, it's either accepting high inflation or a deep recession, or even both if the Fed keeps hiking up rates this slow, and Jersome Powell promising a "soft landing" while increasing rates is nothing but a joke very similar to Ben Bernanke's statement in 2008 about the health of the housing market. The stock market is in a huge bubble and so much air is already coming out!
If you've been holding Apple for a long time, make sure to sell at ATHs because what's coming may be very ugly for the markets.
Goodluck!
M. Y.