Alphabet Inc. (GOOGL) – Elliott Wave Analysis (Daily Chart)
GOOGL Elliott Wave Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 3
Direction: Upside within wave {iii} of 3
Details:
Alphabet Inc. (GOOGL) is expected to experience further upside movement, with a high probability of surpassing previous all-time highs (ATHs) near the $200 mark. This potential upward momentum may be accompanied by increased trading volume, signaling strong bullish sentiment. However, an alternative Elliott Wave count suggests the possibility of wave {v} of 5 emerging, which could encounter significant resistance within the $220 to $230 range.
Alphabet Inc. (GOOGL) – Elliott Wave Analysis (1-Hour Chart)
GOOGL Elliott Wave Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (iii) of {iii}
Direction: Upside into wave (iii)
Details:
A corrective three-wave pattern in wave (ii) has likely reached its bottom following an earlier five-wave advance in wave (i). This completion sets the foundation for an anticipated strong bullish rally as wave (iii) progresses, potentially driving prices higher in alignment with the broader uptrend.
Technical Analyst: Alessio Barretta
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