Jun. 12 at 9:39 PM
$APP
Minor Wave 1 (of PW5) target:
$715
Primary Wave 5 target:
$985+
AppLovin has pulled back sharply with the broader software sector after a strong run into resistance during Subwave 3. The correction aligns with a normal Wave 4 retracement after bearish divergence appeared on RSI.
Price has now reached a key confluence zone around the .786 Fib, including:
Volume POC
Daily 50MA
.382 log Fib support
This area represents a critical validation zone for the current wave structure. Holding the mid-
$400S is important for the bullish count to remain intact.
Lower timeframes are showing early bullish divergence, suggesting a potential stabilization phase.
Overall, this is viewed as a corrective reset within a larger Primary Wave 5 advance, with Subwave 5 targeting ~
$715 if support holds.