Apple Advances In A Potential Wedge As Wave (C) Of 3 Nears Completion

Apple (AAPL) has remained in a bullish trend for some time, but the current advance is developing within a highly overlapping wave structure. While the stock continues to push higher, the lack of a clean impulsive structure leaves open the possibility that we are still dealing with a potential ending diagonal or wedge pattern.

Quick answer: From an Elliott Wave perspective, Apple (AAPL) is in the final stages of wave (C) of 3, possibly within an ending diagonal or wedge. A move toward the $340 to $350 zone remains possible first. After that, a higher-degree wave 4 correction may follow, with support at $300 and stronger support around $274.

From an Elliott Wave perspective, we are tracking the final stages of wave (C) of 3, which can still extend higher and potentially revisit the all-time-high area. A move towards the $340–350 zone remains possible before wave (C) of 3 is completed, but the overlapping price action suggests that bulls may be gradually losing momentum as the stock approaches this area.

An ending diagonal is a terminal Elliott Wave pattern that typically develops near the end of a larger advance. Its overlapping structure can warn that the current trend is becoming mature and that a larger corrective phase may follow once the pattern is completed.

Therefore, although Apple remains bullish in the near term, we should be prepared for a higher-degree wave 4 correction after the completion of wave (C) of 3. The $300 area is an important support zone, while the stronger support around $274 could become more interesting for a larger corrective low and potential longer-term bullish opportunities.

Highlights:

• Apple remains bullish, but the highly overlapping structure leaves open a potential ending diagonal/wedge pattern.

• Wave (C) of 3 can still extend higher towards the $340–350 area.

• Completion of the potential wedge could be followed by a higher-degree wave 4 correction.

• The $300 area is important support, while stronger support is seen around $274.