GE Vernova Inc. (GEV) Elliott Wave forecast: Bullish trend resumes
GE Vernova Inc. (GEV) has been trending higher, and its Elliott Wave structure suggests the uptrend will continue. The recent pullback appears to be wave (II), setting the stage for a new bullish move.
Elliott Wave analysis
The chart shows a clear five-wave impulse to the upside, labeled as wave (I), which peaked earlier this year. After that, a corrective phase unfolded, completing wave (II) at a key support level of $266.08. This level aligns with the Fibonacci retracement zone, providing a strong base for the next bullish leg. Now, the stock is in the early stages of wave (III), which typically extends and sees the strongest price acceleration in an Elliott Wave cycle. The forecast suggests a move beyond the previous peak, with price targets in the $450–$500 range. Additionally, the presence of a “Turning Up” tag at the invalidation level at $114.93 reinforces the idea of a bullish continuation.
Right side and trading strategy
The right-side tag signals that traders should focus on long positions since the dominant trend remains bullish. The invalidation level at $114.93 serves as a risk management point. If the price falls below this level, the bullish count would need reevaluation. However, as long as it holds, the market structure favours further upside.
Conclusion
GE Vernova Inc. remains in a bullish Elliott Wave structure, with wave (III) in progress. Traders and investors should look for pullbacks as buying opportunities while keeping an eye on the invalidation level. The long-term outlook remains positive, with a potential breakout toward new highs in the coming months.
Author
Elliott Wave Forecast Team
ElliottWave-Forecast.com
