Apple Inc (US: APPL) primary phase 5-wave impulse has complete after the stock forms a divergence, signalling an end of a 5-wave trend on 2^nd September 2020. Based on the technical and wave analysis, we are looking at further downside to complete wave C. :

1. Apple has broken below the immediate support of wave A at US$110.48. As such, we are looking at a premature start of corrective wave C.
2. Since wave B fails to clear above 50.0% Fibonacci retracement of wave A, there is a strong conviction that Apple’s wave C will be extended toward 161.8% of wave A. Which also coincide near the support level of US%100.40 and 78.6% Fibonacci retracement level of immediate swing high/low from wave 4-5.
3. Bearish candle closes below 50-day moving average, signalling further correction to the downside.

*The technical call is valid for 4 weeks only. Buy limit should be filled within the next 3-5 days. Otherwise the buy limit will be considered a forgone trade

CHART LEGENDS

Moving average

Red dotted line = 200-day moving average

Blue dotted line = 50-day moving average