Apple (AAPL) Elliott Wave Analysis

Analysis of Apple stock price is not very congruent within the methodology I am using, however I am intrigued by the stock behavior. It does not look hopeless either and therefore I decided to watch it for a while more closely. NOTE: the main inconsistency is related to the starting point of the impulsive structure which does not fit well with the general pattern for US stocks. The impulse starts in 1997 rather than in 1987. This may imply some limitations for the projected time and price zones in the long time frame. Trading Strategy No trading yet. Just get some feel on how the stock behaves in the context of Elliott Analysis. ...Read more Elliott Analysis Long term: The corrective pattern for the price action has finished and now the price is in the Wave (III) of the Supercycle degree Impulse that is expected to complete in the price range 45.72 to 225.55, but more probably between 51.65 and 97.32. This wave is due to complete anytime from now until 30-Dec-2011, but is most likely to complete before 12-Nov-2008. Then expect the stock to pull back into wave (IV), which will be corrective in nature and has a probability of 84% of being a Flat or other sideways pattern. Wave (IV) should not retrace back into the price range of wave (I) or (II). After wave (IV), expect wave (V) to move beyond the end of wave (III) to complete this Impulse. Medium term: The price is in the Wave III of the Cycle degree Impulse which should complete in the price range 53.82 to 142.84, but more probably between 59.68 and 92.08. This wave is due to complete anytime from now until 31-Jan-2007, but is most likely to complete before 05-Jun-2006. Then expect the stock to pull back into wave IV, which will be corrective in nature After wave IV, expect wave V to move beyond the end of wave III to complete this Impulse which will also complete Wave (III) of the Supercycle degree Impulse (long term). Short term: Wave 3 of the Primary degree Impulse is expected to complete in the price range 57.96 to 107.41, but more probably between 61.25 and 77.91. This wave is due to complete anytime from now until 22-Feb-2006, but is most likely to complete before 21-Dec-2005. Shorter time frame forecast is rather uncertain. Probably the price is in the Wave 5 and it will complete in the price range 60.36 to 89.56, but more probably between 63.81 and 72.92. This wave was expected to complete before 17-Nov-2005 and must complete by 2-Dec-2005. When completed, it will also complete wave 3 of the higher degree pattern. Taking into account that previous correction waves were relatively short both in time and price ranges, we should expect extended correction patterns for waves 4. They may provide low risk opportunities for trading within the price channels.