AAPL, BABA update December 5

AAPL: still looks like we’ve got 5 smaller waves up from $104 to $112ish and price is now well within its wave 2 retrace zone. Concerning is though that price has been unable to move back above its daily Ichimoku cloud, which is needed to sustain more upside (like in August-October). There are still no clear buy signals, so we recommend sitting on the fence till price breaks higher and tells us a new uptrend has started.



BABA: Looks more constructive than APPL because we have nice positive divergence on the daily RSI5 and a tentative buy on the MACD. Continued upside will also provide an A.I. buy signal. In addition, price is nicely at long term trendline support.  A break above $96 or above the red downtrend line will confirm the new uptrend. We should then see price rally to $120+.