GOOGL Elliott Wave Analysis – Trading Lounge Daily Chart

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 for traders and investors.

GOOGL Elliott Wave Technical Analysis – Daily Chart

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Minor Wave 5

Direction: Upside within Wave 5

Details: A potential bottom in Wave 4 has formed, and we are now observing a {i}-{ii} of Wave 5.

Daily Chart Outlook: Alphabet Inc. (GOOGL)

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 appears to have reached a bottom, and the market is now progressing toward a new impulsive structure in Wave 5. This new wave is expected to unfold in a {i}-{ii} formation. The broader outlook points to continued upside as this final wave moves forward, with Wave 5 driving further gains in GOOGL’s stock price.

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GOOGL Elliott Wave Technical Analysis – 1-Hour Chart

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {ii} of 5

Direction: Bottom in Wave {ii}

Details: Expecting one more leg lower into Wave (c), ideally towards equality with Wave (a), before turning higher within Wave {iii}.

1-Hour Chart Outlook: Alphabet Inc. (GOOGL)

On the 1-hour chart, GOOGL is currently in Wave {ii} of 5, with the potential for further downside before a reversal. The market is likely nearing the completion of the corrective structure in Wave {ii}, particularly within Wave (c). The expected move targets equality with Wave (a) before the corrective phase completes. Once this final leg lower is reached, a reversal is anticipated, leading to the beginning of Wave {iii}, which would signal the next phase of the uptrend and potentially higher prices for Alphabet Inc. stock.

Technical Analyst: Alessio Barretta

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: McDonald’s Corp. (MCD) Elliott Wave Technical Analysis

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