GOOGL Elliott Wave Analysis – Trading Lounge Daily Chart
This Elliott Wave analysis for Alphabet Inc. (GOOGL) covers both the daily and 1-hour charts, applying Elliott Wave Theory to evaluate potential future market movements for traders and investors.
GOOGL Elliott Wave Technical Analysis – Daily Chart
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor Wave 5
Direction: Upside within Wave 5
Details: A potential bottom in Wave 4 has formed, and we are now observing a {i}-{ii} of Wave 5.
Daily Chart Outlook: Alphabet Inc. (GOOGL)
On the daily chart, Alphabet (GOOGL) is in the early stages of Minor Wave 5, suggesting the resumption of an uptrend. The preceding Wave 4 correction appears to have reached a bottom, and the market is now progressing toward a new impulsive structure in Wave 5. This new wave is expected to unfold in a {i}-{ii} formation. The broader outlook points to continued upside as this final wave moves forward, with Wave 5 driving further gains in GOOGL’s stock price.
GOOGL Elliott Wave Technical Analysis – 1-Hour Chart
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {ii} of 5
Direction: Bottom in Wave {ii}
Details: Expecting one more leg lower into Wave (c), ideally towards equality with Wave (a), before turning higher within Wave {iii}.
1-Hour Chart Outlook: Alphabet Inc. (GOOGL)
On the 1-hour chart, GOOGL is currently in Wave {ii} of 5, with the potential for further downside before a reversal. The market is likely nearing the completion of the corrective structure in Wave {ii}, particularly within Wave (c). The expected move targets equality with Wave (a) before the corrective phase completes. Once this final leg lower is reached, a reversal is anticipated, leading to the beginning of Wave {iii}, which would signal the next phase of the uptrend and potentially higher prices for Alphabet Inc. stock.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: McDonald’s Corp. (MCD) 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
