Apple’s four-hour Elliott Wave chart dated 17 June 2026 frames the move from the 245 low as a completed impulsive five-wave advance, which the analysis treats as confirmation of a new bullish cycle. A pullback then developed as a three-wave correction, and the decline from the peak was described as unfolding in five waves, implying another leg lower was likely at the time.
Within Wave (2), the first leg down was labelled A (red) and was followed by a three-wave rebound in B (red). With price below the short-term high, Wave C (red) was projected to target a 272.4–265.3 buying zone, derived from an equal-legs measure using a 1.00–1.236 Fibonacci extension of A relative to B. The subsequent Wave C (red) leg down was said to have completed the correction but finished a few points above the intended entry. The framework then shifts to requiring a break above the Wave (1) blue peak, followed by another three-wave pullback, before fresh buying is considered.
Recent Breakout and Market Response
We see that the expected pullback in Apple stock completed in late June, though it turned higher before hitting our ideal entry zone around the $265 mark. The stock has since broken out strongly, confirming the underlying bullish trend we were monitoring. This breakout was fueled by positive market reception to the new AI features announced at last month’s Worldwide Developers Conference.
The stock has now surpassed the prior peak, trading near $310 as of this week. Recent options market data supports this strength, with the 30-day call-to-put ratio climbing to 1.8, a level not seen since the last earnings cycle. Implied volatility remains elevated around 35%, indicating traders are positioned for continued movement rather than a stall.
This type of post-announcement rally is consistent with historical patterns. Looking back at similar AI-centric product reveals, the stock has often experienced sustained momentum for several weeks following the event. We’ve seen this play out after keynotes in 2023 and 2024, leading to significant gains over the following quarter.
Strategy and Next Steps
Given this new high, we are not chasing the current price but are instead preparing for the next opportunity. The primary strategy now is to wait for the next three-wave pullback, which will offer a better risk-to-reward entry for call options or bull put spreads. This patience is key, as buying into an overextended rally is a common mistake.
We will be watching for signs of a minor consolidation or pullback toward the $290 to $295 area. This zone represents the former resistance level, which should now act as support. An entry there would align with our strategy of buying dips within a confirmed uptrend.
