Shares of consumer electronics maker Apple Inc. are trading in an uptrend near 272.00.

The price is in a correction, and a fall is possible.

On the daily chart, the third wave of the highest level (3) develops, within which the wave 1 of (3) and the correctional second wave 2 of (3) ended, and the third wave 3 of (3) is developing. On the daily chart, the first entry wave of the lowest level i of 3 is forming, the wave (iii) of i has ended, and the correctional wave (iv) of i has stated. If the assumption is correct, the price of the asset will fall to the area of 245.00–225.00. In this scenario, the critical stop loss level is 277.74.