Alphabet Inc. (GOOGL) Stocks Elliott Wave technical analysis [Video]

GOOGL Elliott Wave Analysis – Trading Lounge Daily Chart.

Alphabet Inc. (GOOGL) – Daily Chart.

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 expected in Minor Wave 2 after a top in wave 1 of (3).

• Possibility that wave (1) may need to be repositioned, potentially signaling a larger correction.

GOOGL Elliott Wave Analysis – Trading Lounge 1H Chart.

Alphabet Inc. (GOOGL) – 1H Chart.

GOOGL Elliott Wave technical analysis

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave {c} of 2.

• Direction: Bottom in Wave 2.

Details:

• Looking for a potential bottom in wave 2, either already in place or forming soon.

• A three-wave move in wave 2 is visible, suggesting the end of the current corrective phase.

GOOGL Elliott Wave technical analysis – Summary

Daily chart

• GOOGL is in an impulsive trend within a motive structure, currently observing a correction in Minor Wave 2.

• After reaching a top in wave 1 of (3), the stock is undergoing a sharp pullback, possibly indicating the beginning of a larger corrective phase.

• Wave 2 pullback should ideally set the stage for the next upside movement once completed.

1H chart

• GOOGL is nearing the completion of wave {c} of 2, marking the end of the current corrective phase.

• A three-wave structure is forming in wave 2, suggesting a potential bottom is either already in place or developing soon.

• This could signal the start of a new impulsive wave in the next upward trend.

Technical analyst: Alessio barretta.

GOOGL Elliott Wave technical analysis [Video]