Chart of the day

Where do we stand fundamentally?

Apple (AAPL) has recently seen significant developments that could impact investors' perspectives. In Q3 2024, Apple reported a record revenue of $85.78 billion, up nearly 5% year-over-year, with earnings per share reaching $1.40. This growth was primarily driven by a 14% rise in services revenue and a notable 24% increase in iPad sales, despite a slight decline in iPhone revenue. However, performance in Greater China—a key market for Apple—fell by over 6%, sparking concerns about the company's ongoing challenges in the region

AAPL is testing the most important support of 220. We need a bounce here with a confirmation for the extension higher in the fifth wave. Invalidation of this immediate upside extension could come upon a break below 210.

An invalidation level of a fifth-wave long-term extension higher and a bullish cycle continuation is much lower at 130 meaning we are in the strong bull uptrend. As said the continuation of an extension could lead to a 270 target in the medium-term to long-term if AAPL bounces here and sustains a break above 230.

_{Try a long trade entry with a stop loss below 210 to target 240 and higher. You can trade it with options as well like in the example shown.}