AAPL, AMZN, FB review of our calls. April 30

AAPL: Came on Friday within 21 c of its January low and is thus VERY close to invalidating the what we originally preferred as the 5-waves up count, though we mentioned 1,2,3,4,5 can be counted as A,B,abc and that’s most likely what we have to content with as 2nd waves barely ever retrace 99.9% of a 1st wave. Still technically possible, but the odds are getting very small. The C=A extension (yellow line) targets $72.  Cont’d below.

AAPL

AAPL’s weekly chart looks weak and bleak and we expect price to target the lower red trendline eventually, with first support at the 200w SMA: $90, the lower BB and the weekly S1 ($86.51). We see all TIs are pointing down, wanting to see lower prices going forward. A MACD sell cross would be bearish as it is below the 0 line!

aapl 2

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AMZN: we were either looking for a breakout or breakdown, and the market chose the breakout route. We know it’s easy to say the market will go up or down, but that’s the two scenarios we had to content us with given the price action we had. Now we have 1 options confirmed and we can work wit that 🙂 Low risk, high reward.

amzn

With Friday’s candle, it appears AMZN is now in (white) minor iv of (green) intermediate 3 of (red) major 3 of blue Primary V. The white, green and red Fib extensions coincide nicely at several price levels and we expect iv to bottom at $652ish, 3 top at $686, 4 bottom at $673, then larger iii top at ~$715, with larger iv down to $665 possible. But lets focus on iv, 3 first before getting too far ahead of ourselves.

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FB: Also FB took the direct bullish route, but opened so high it’s close to confirming Primary I… This is not really a low risk high reward level anymore in our opinion. Thursday’s black candle showed many are selling into the pop and not buying… An Friday’s candle lacked buying pressure as well. No surprise as price is now right at the white trendline and in intermediate e of major 5. The last and final wave. It can move higher to the yellow trendline to $130, but only time will tell. There are now simple enough waves in place to count FB as having peaked.

fb

With people now spending 50min per day on FB, according to Zuckerberg himself, which is more than their daily face-to-face interaction, user saturation appears to be near and that means growth as well.