It has been a while since I last looked at Apple (see my last update here: http://theelliottwavesufer.blogspot.dk/2013/02/blog-post.html). My count is still calling for lower levels in Apple. The first target is at 391.00, but from the latest development I now expect, that the decline to 391.00 only would the bottom of wave iii and therefore we should expect the ideal target for the ongoing correction to breach 391.00 for a continuation lower towards 363.60 and maybe even lower towards the 61.8% correctiv target near 316.00. However as we close in on strong support at 391.00 I will take a close look at the pattern.
We should also notice, that the decline from 703.86 is nicely contained within the descending channels borders, which is typical for correction.
thx for the update. the stock definitely feels weak right now.
ReplyDeleteAny thoughts on Baidu? Also a fallen star
ReplyDeleteAlso the Chinese A-Share market?
ReplyDelete