AAPL, TSLA re-assessed based on current price action, and an AXP update 08/02

With the new price action after earnings I am now much better able to forecast what will most likely happen next and I really like that, of course :-), so here it goes:

AAPL: Minor-3 of intermediate-iii of major-5 of Primary-V is now underway with an ideal target of around 208.50 to 210, then minor-4 down to around $200 (around today’s open and yesterday’s close), before minor-5 rallies price back to the 123.60% extension at around $218. Since minor-1 was only 0.382x intermediate-i, we can expect iii to only reach the 123.60% extension. Then iv down to around 205 and a final v to complete Cycle 1 at around the 176.4% fib-extension ($233ish).

aapl-daily 1


TSLA: Albeit losing $1.5B over the last half year (record amount… and as a company it should therefore IMHO be valued at 0 not where it is now, but oh well that’s just my opinion and not a fact) it looks like the Tesla-Bulls get their wish with a large leading diagonal underway to around $465-ish ( c=1.382x a ). It would fit nicely with a tag of the upper trendline mid-2019, but its not necessary of course. With price back above the 200d SMA in a vengeance today, its long term uptrend is now back to up, and the daily chart will soon have a nice bullish setup: price > 20d >50d > 200d; and dips should be bought.

TSLA weekly


AXP: Earlier this year when price bottomed in the ideal major-4 target zone (black box) I did not know yet if major-5 would be a regular impulse or become an ending diagonal. Currently the price action looks very much like a diagonal and therewith a completion of Primary-V. The alternative is that major-4 bottomed later (early-April; at the “ii/b” low) and we have a i, ii, 1, 2 setup in place. We need to see a break over $105 to ensure that is the case. It would then target $120. Thus, by only longing a break over $105 there’s still plenty of upside left, as a break below $95 means indeed major-5 is in…