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

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See Previous: Berkshire Hathaway Inc Elliott Wave Technical Analysis

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