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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 47.31-4.2%Oct 30 4:00 PM EDT
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From: #Breeze2/1/2025 11:54:33 AM
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AAPL Wave Count Update on a weekly candlestick chart. Minor Wave 2 unfolded as an expanded (irregular) ABC. In this type of a pattern Wave C typically declines to a price equal to 161.8% of Wave A or 193.54. So my thought was a double bottom at Wave A's price.

But note the reversal of this week's green candlestick. Its closing price was slightly above the 7/15/24 closing price that was resistance until the breakout to Wave B. However it did not provide support for the recent decline.

Is it possible that Wave C is complete (RSI bounced above the 50 line)? Next week may provide the answer. If Wave C is complete that would be very bullish as that ABC pattern would qualify as a bullish running flat.

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