PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

May 20th, 2013: AAPL Wave Count Update

Posted by pugsma on May 20, 2013

1:20 pm EST:  The primary count for AAPL is that minor 2 of major [1]-P5 bottomed at 419.  Minor 3 is underway with a target of 519, where minor 3=1.23*minor 1.   It looks like the initial move from 419 to 440 was wave (1) of minor 3 and the move down to 430 was wave (2).  Now wave (3) is underway with a target 485, where (3)=2.62(1).   For this count to remain valid the minor 2 low of 419 must not be breached, before a move above the minor high of 466.

The alternate (blue) count is that 419 was the wave (a) of minor 2 low and this current move up is a (b) wave of minor 2 with a target of 448 or a 62% retrace.  Once (b) is complete there will be a wave (c) of minor 2 down to a 401 target area, where (c)=(a).  The 78% retrace of minor 1 is at 403 and the 88% retrace is at 395.  For this count to remain valid 466 must not be breached, before a new low below 419.

AAPL 15-min chart (mid-day):

PUG AAPL 15-min chart mid-day 5-20-13

AAPL 60-min chart (mid-day):

PUG AAPL 60-min chart mid-day 5-20-13

AAPL 4-hr chart (mid-day):

PUG AAPL 4-hr chart mid-day 5-20-13

Sorry, the comment form is closed at this time.

 
%d bloggers like this: