GOOGL Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Minor Wave 5.
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Direction: Upside within Wave 5.
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Details: A potential bottom in Wave 4 has formed, and we are now observing a {i}-{ii} of Wave 5.
GOOGL Elliott Wave technical analysis – Daily chart
On the daily chart, Alphabet (GOOGL) is in the early stages of Minor Wave 5, suggesting the resumption of an uptrend. The preceding Wave 4 correction seems to have bottomed, and the market is now building toward a new impulsive structure in Wave 5, likely unfolding in a {i}-{ii} formation. The overall outlook is for continued upside as this final wave progresses.
GOOGL Elliott Wave technical analysis
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Function: Trend
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Mode: Impulsive
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Structure: Motive
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Position: Wave {ii} of 5
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Direction: Bottom in Wave {ii}
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Details: Expecting one more leg lower into Wave (c), ideally towards equality with Wave (a), before turning higher within Wave {iii}.
GOOGL Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, GOOGL is currently in Wave {ii} of 5, with a potential further downside move expected. The market appears to be near the completion of the corrective structure in Wave {ii}, particularly in Wave (c), which targets equality with Wave (a). After this final leg lower, a reversal is anticipated, leading to the beginning of Wave {iii}, signaling the next phase of the uptrend.
This Elliott Wave analysis for Alphabet Inc. (GOOGL) covers both the daily and 1-hour charts, applying Elliott Wave Theory to evaluate potential future market movements.
Alphabet Inc. (GOOGL) Elliott Wave technical analysis [Video]
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