Chart of the day

Where do we stand fundamentally?

Apple reported record-breaking financial results for Q1 2025, with revenue reaching $124.3 billion (up 4124.3 billion (up 42.40 (up 10% YoY). Services revenue hit an all-time high of $26.3 billion, driven by strong growth in developed and emerging markets.

Despite overall growth, Apple faced an 11% revenue decline in Greater China, partly due to inventory adjustments and the absence of Apple Intelligence features. Competitive pressures and slower iPhone replacement cycles have also impacted performance in this region.

The AAPL is rejected from 247 which is seen as a brown rising wedge retest. This is strong near-term resistance for an upside continuation, and I see this as the end of the long-term fifth wave and the beginning of a five-wave reversal down. A break above 247 can invalidate this view and will lead to an extended fifth wave higher.

We are in a possible terminal phase of an uptrend fifth long-term wave with an indicated resistance of 247. A breakout above this resistance will lead to an extension higher in the prolonged fifth wave and a rejection here we have can lead to a complete downside reversal which would be confirmed by a breakout below 219.

_{You can take a near-term short-trade entry with an SL above 250 to target 180 and lower.}