Elliott Wave View: Apple (AAPL) Short Term Remains Supported

Short-term Elliott wave view in Apple (AAPL) suggests the rally from July 19, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from July 19 low, wave 1 ended at 151.7 and pullback in wave 2 ended at 144.24. Internal subdivision of wave 2 unfolded as a zigzag structure. Wave (a) ended at 149.09, wave (b) ended at 150.72, and wave (c) ended at 144.24. The stock resumes higher in wave 3 which subdivides into another 5 waves in lesser degree.

Up from wave 2 low, wave (i) ended at 148 and pullback in wave (ii) ended at 145.84. The stock resumes higher in wave (iii) towards 150.21, pullback in wave (iv) ended at 149.15. The final leg higher wave (v) ended at 150.86. This completed wave ((i)) in higher degree. Pullback in wave ((ii)) has ended at 146.83 as a double three where wave (w) ended at 147.8, wave (x) ended at 149.12, and wave (y) ended at 146.83. The stock has resumed higher and broken above wave ((i)), which suggests wave ((iii)) has started.

Up from wave ((ii)), wave (i) ended at 149.05, and dips in wave (ii) ended at 148.23. Wave (iii) ended at 153.49, and wave (iv) pullback is in progress before stock resumes higher again. Near term, as far as August 19 pivot low at 144.23 remains intact, expect pullback to find support in 3, 7, or 11 swing for more upside.