Elliott Wave Technical Analysis: Alphabet Inc. – Monday, Oct. 21


GOOGL Elliott Wave Analysis – Trading Lounge
Alphabet Inc. (GOOGL) Daily ChartGOOGL Elliott Wave Technical Analysis

  • 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.
  • Alphabet Inc. (GOOGL) 1H ChartGOOGL Elliott Wave Technical Analysis

  • 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}.
  • 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.GOOGL Elliott Wave Technical Analysis – Daily ChartOn 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 seems to have bottomed, and the market is now building toward a new impulsive structure in Wave 5, likely unfolding in a {i}-{ii} formation. The overall outlook is for continued upside as this final wave progresses.GOOGL Elliott Wave Technical Analysis – 1H ChartOn the 1-hour chart, GOOGL is currently in Wave {ii} of 5, with a potential further downside move expected. The market appears to be near the completion of the corrective structure in Wave {ii}, particularly in Wave (c), which targets equality with Wave (a). After this final leg lower, a reversal is anticipated, leading to the beginning of Wave {iii}, signaling the next phase of the uptrend.Technical Analyst: Alessio BarrettaMore By This Author:Elliott Wave Technical Analysis: Euro/U.S. Dollar – Monday, Oct. 21
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