Apple Nearing Major Wave Completion: AAPL Price Targets

Shares of Apple Inc. (AAPL) have been very strong of late. And Apple is undoubtedly a great company. But I have to ask one simple question:  Am I the only one that can see the current wave pattern for Apple’s stock? The latest major wave higher may be coming to an end and I would like to discuss some potential AAPL price targets.

Here’s what I see when I look at Apple’s long-term stock chart:

  • 5 waves completing
  • A bearish divergence
  • Declining volume
  • Long term log trend lines converging at a bit higher prices
  • The following wave relationships:
    • Initial impulse wave (1) has expanded by 4.236 (1.618*1.618*1.618) at $129
      • It’s seldom seen that an initial impulse wave will go past this expansion – unless perhaps your AAPL?
    • Wave (1) * 2.618 = Wave (5) at $129.
    • Wave (3) = Wave (5) at $144
      • Note 12*12

Okay, now let’s break down the current wave count for Apple and highlight those AAPL price targets:

Apple (AAPL) Stock Chart – Major Wave 3 Nearing Completion?

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apple major wave 3_aapl price targets


And how about this AAPL rising wedge (a bearish pattern)?

aapl bearish rising wedge_price targets


In January we wrote about the $100 price area being an AAPL price target to BUY into. It didn’t make it down low enough because it smacked right into the long term log trend line. Still, the stock fell to $103 and change, offering a good buying opportunity.

But, as I’ve written about before, APPL can fall from the tree.

So, as my daughters tell me “haters are going to hate” and AAPL is an amazing company… it’s incredible and they are coming off the best quarter in the companies history and they have billions of dollars of cash and they have AAPL watch and AAPL Health Kit and perhaps a car coming.

Folks, I get all that.  BUT… the math of PRICE and TIME is telling me something different. Higher prices, sure. But be careful as we near these AAPL price targets.

Thanks for reading.

   Follow Bart on Twitter:  @BartsCharts

No position in any of the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity. Image sourced from Wikimedia commons.