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: Bottom in Wave 2
Details:
-
A sharp pullback is anticipated in Minor Wave 2 following the top in Wave 1 of (3).
-
There is a possibility that Wave (1) may need repositioning, which could indicate a larger corrective phase.
Alphabet Inc Daily Chart Analysis
GOOGL is currently in an impulsive trend within a motive structure, undergoing a correction in Minor Wave 2.
-
After reaching the top in Wave 1 of (3), the stock is experiencing a sharp pullback, which may signal the start of a larger correction.
-
The Wave 2 pullback is expected to lay the foundation for the next upward movement once the correction is completed.
GOOGL Elliott Wave Analysis – Trading Lounge 1H Chart
Alphabet Inc. (GOOGL) – 1H Chart Analysis
GOOGL Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {c} of 2
Direction: Bottom in Wave 2
Details:
-
The market is looking for a potential bottom in Wave 2, which may already be in place or could form soon.
-
A three-wave pattern in Wave 2 is visible, indicating the possible end of the current corrective phase.
GOOGL Elliott Wave Technical Analysis – Summary
1H Chart Outlook
-
GOOGL is approaching the completion of Wave {c} of 2, suggesting the end of the ongoing correction.
-
The three-wave formation in Wave 2 hints at a potential bottom, which could either be confirmed or still developing.
-
If this bottom is established, it may trigger the next impulsive wave in an upward trend.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: Berkshire Hathaway Inc Elliott Wave Technical Analysis
VALUE Offer - Buy 1 Month & Get 3 Months!Click here
Access 7 Analysts Over 200 Markets Covered. Chat Room With Support
