Analog Devices Inc. (ADI) is exhibiting a strong bullish trend according to the latest Elliott Wave analysis. Here’s a detailed breakdown of the current market scenario based on the daily and 4-hour charts.
ADI Elliott Wave Analysis Trading Lounge: Daily Chart Insights
Analog Devices Inc., (ADI) Daily Chart Overview
Elliott Wave Technical Analysis for ADI
Function: Trend Identification
Mode: Impulsive Movement
Structure: Motive Sequence
Current Position: Minute wave {iii}
Projected Direction: Upward Movement in Minute {iii}
Key Resistance Level: Anticipating a major resistance at the $250 mark, which aligns with MG1 trading strategies.
ADI Elliott Wave Technical Analysis – Daily Chart
The daily chart for ADI reveals that the stock is in Minute wave {iii}, part of an impulsive move. The next significant level to watch is the Medium Level at $250, which is expected to provide strong resistance. As ADI trades within MG1, this level becomes a critical point for potential price action. Traders should be aware of this resistance zone and monitor the price behavior closely as it approaches $250.
ADI Elliott Wave Analysis Trading Lounge: 4-Hour Chart Review
Analog Devices Inc., (ADI) 4-Hour Chart Examination
Elliott Wave Technical Analysis for ADI
Function: Trend Analysis
Mode: Impulsive Behavior
Structure: Motive Phase
Current Position: Wave (iii) of {iii}
Trend Direction: Continuing Wave (iii)
Volume Analysis: Strong volume indicators support a bullish trend, with expectations of sustained upward momentum.
ADI Elliott Wave Technical Analysis – 4Hr Chart
The 4-hour chart complements the daily analysis by highlighting that ADI is in wave (iii) of Minute wave {iii}. The volume analysis suggests that the bullish trend is well-supported, indicating a likely continuation higher. This wave structure confirms the impulsive nature of the current market move, reinforcing the bullish outlook.
Technical Analyst: Malik Awais
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