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 technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (iii) of {iii}.

Direction: Wave (iii).

Details: Volume suggests the bull trend is in place, looking for continuation higher.

ADI Elliott Wave technical analysis – Four-hour 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.

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.

Analog Devices Inc.(ADI) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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