In the short term, Apple (AAPL) is still expecting Wave 5 to end higher

In the short term, Apple (AAPL) implies that the rebound from the 3.29.2023 low is taking the form of a 5-wave impulse structure. Wave 1 concluded at 167, up from the low of 3.29.2023, while wave 2 ended at 159.70. As shown in the 1-hour chart below, the stock resumed its upward trend in wave 3 towards 195.27. Wave 4 unfurled as a double three structure from there. Wave (a) concluded at 190.99 while wave (b) ended at 192.98, both down from wave 3. Lower wave (c) finished at 189.20, completing wave ((w)). Rally in wave ((x)) terminated at 192.67 with zigzag internal subdivision. Wave (a) finished at 192.46, wave (b) terminated at 190.24, and wave (c) higher ended at 192.67, completing wave ((x)).