On the 27^th of June the price of Apple Inc.’s stocks reached the second low of the Double Bottom pattern ,confirmed in the end of July by a breakout above 463$ per share. The pattern gave a very good signal for the trend reversal.

From the beginning of July until the mid of September the price has drawn a 5 small waves up moves, drawing Wave 1 on a higher level, and an abc correction, ending as well the 2nd wave. From 16^th of July started another up move formed by 5 lower rang waves, which in my opinion has drawn the 3^rd wave at the higher level that has ended in the beginning of December.

From 5^th of December all the way to 10^th of January 2014, the price has drawn a 3 wave, corrective move, which has touched the uptrend line and got pretty close to the 100 EMA. This means that around the price can find a good support area around 525$ per share. If the 4^th wave will be over around here, I expect the price to rally to 600$ per share, ending this way the 5 wave pattern mentioned in Elliott Wave Theory.

Even though the price moved beautiful conform EWT I would be attentive at this support zone. If bulls will not pressure the price to bounce, we might see a fall under the trend line. A daily close under the 100 EMA could annihilate the current analysis and the price might fall back to retest 500$ per share, or, why not, even lower.