GOOGL Elliott Wave Analysis – Daily & 1-Hour Chart Overview
This Elliott Wave analysis for Alphabet Inc. (GOOGL) evaluates both the daily and 1-hour charts to determine the current market trend. Utilizing Elliott Wave Theory, we aim to forecast potential future price movements.
GOOGL Elliott Wave Analysis - Trading Lounge Daily Chart
Alphabet Inc. (GOOGL) Daily Chart Analysis
GOOGL Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 1
Direction: Upside within wave {v} of 1
Details:
GOOGLE is currently in an upward move within wave 1 of (3), aligning with a conservative outlook. As the stock hovers around the $200 level, there is a possibility of a larger pullback, likely forming wave 2. This suggests that a short-term correction might take place before the next bullish wave initiates.
GOOGL Elliott Wave Technical Analysis – Daily Chart
Alphabet Inc. (GOOGL) continues its impulsive rally as it progresses through wave 1 of (3). The $200 price level remains a key psychological barrier, and a potential retracement into wave 2 could emerge before the next bullish phase begins. This wave structure aligns with Elliott Wave Theory, indicating further upside momentum in the long term.
Alphabet Inc. (GOOGL) 1H Chart Analysis
GOOGL Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (iii) of {v}
Direction: Targeting the top in wave {v}
Details:
GOOGL is expected to continue its upward trajectory into wave {v}, with parallel trend channel support reinforcing confidence in this Elliott Wave count. This bullish setup suggests that the current structure may see further gains before a possible retracement.
GOOGL Elliott Wave Technical Analysis – 1H Chart
The short-term Elliott Wave outlook for GOOGL anticipates an extension into wave {v}, supported by trend channel strength. As this pattern unfolds, the stock could see additional gains before encountering resistance, leading to a potential pullback. Traders should monitor key support levels to confirm the ongoing bullish wave progression.
Technical Analyst: Alessio Barretta
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