Alphabet Inc. (GOOGL) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

Alphabet Inc. (GOOGL) – Elliott Wave analysis (daily chart)

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minor wave 3.
Direction: Upside within wave {iii} of 3.
Details: Anticipating further upside, potentially breaking all-time highs (ATHs) around the $200 level with increased volume. An alternative count suggests wave {v} of 5, which may encounter major resistance between $220 and $230.

Alphabet Inc. (GOOGL) – Elliott Wave analysis (one-hour chart)

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (iii) of {iii}.
Direction: Upside into wave (iii).
Details: A bottom in wave (ii) is likely in place after a clear three-wave corrective move following a five-wave advance in wave (i). This sets the stage for a strong bullish move as wave (iii) unfolds.

Alphabet Inc. (GOOGL) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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