Is Apple back to new highs?
Apple began a decline after the high at 233, ending with a low at 142 on January this year. A drop of approx. 39% in value in 4 months. In the chart we are analyzing the current wave as the corrective of the previous decline. This wave is moving inside the blue lines and looking for the attractor (blue area). These elements show us the high probability zone where should be finishing the corrective wave for an incomplete bearish sequence of higher degree. The bearish scenario is confirmed with the break of 149.96, opening the 1st (130 – 120) and 2nd attractor (97 – 63). The bulls are back above 212.
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