The Long Investor

$AAPL TOP 20

Added 2024-03-05 11:18:43 +0000 UTC

$AAPL has made it clear on Monday that the reversal is now confirmed.

They have lost the 50 and 200 Day MA and trending to the downside in an ABC corrective wave.

Since its high of $199, the PM now brings the price down to $172, which is very close to the 0.38 Fib at $170 now. This means that the share price has retraced -38% from its high, taken from the full length of Waves 1 to Wave 5.

This is where we had Wave A waiting and incredibly, Wave A is almost complete.

Typically Wave A finds support around the 0.38 Fib and then there is a relief bounce, this is where smart money uses this fake bounce as an opportunity to get out of their position.....and unfortunately, retail investors believe this is the reversal back to the upside and start buying again.

So if you are still in $AAPL, wait for the bounce before taking money off the table.

Wave C for me needs to go below the October low of $165 to complete, so there is still more downside over the next few months.