Stock Contest November 27: Apple

Apple (AAPL) has broken the trend line drawn from the April 28, 2015 peak.

(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Apple has completed one cycle from the May 12 low. The five wave advance ended on the October 11, and the three wave correction finished on the November 14. If this wave count is correct, Apple should be heading next towards the October 11 peak in the wave three.

(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Apple is currently most likely in the wave five. The wave one started in the April 2013, and finished in the December 2013. The wave two correction ended in the January 2014, and the wave three advance finished on the April 28, 2015. The wave four correction ended on the May 12.

(Chart courtesy of Tradingview.com)
In the monthly chart, I believe Apple is in the wave five. The wave one started from the all time low, and finished in the December 2007. The wave two correction ended in the November 2008, and the wave three advance finished in the September 2012. The wave four correction ended in the April 2013.

(Chart courtesy of Tradingview.com)
Disclosure: I/we have no position in AAPL.

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