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Apple Inc.: wave analysis 12 June 2017, 09:17

Timeframe Weekly
Recommendation BUY
Entry Point 148.64
Take Profit 156.37, 165.00
Stop Loss 146.10
Key Levels 136.00, 143.90, 156.37, 165.00
Alternative scenario
Recommendation SELL STOP
Entry Point 143.80
Take Profit 136.00
Stop Loss 146.40
Key Levels 136.00, 143.90, 156.37, 165.00

The price is correcting.
Upward momentum is likely to be formed within the fifth wave 5 of the highest level. Currently the development of the third wave of the lowest level iii of 5 seems to have finished, and downward correction is being formed a the fourth wave that has flat shape. If the assumption is correct, after it is finished the growth of the price will continue to the levels of 156.37-165.00. A critical level for this scenario will be 143.90.

Trading tips
One may buy the asset from corrections above the level of 143.90 with target at 156.37-165.00.
Alternative scenario
Breaking through the level of 143.90 and consolidation of the price below it will allow the asset to continue falling to the level of 136.00.
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