Infineon Technologies (IFX Stock) nesting before acceleration higher

Infineon Technologies AG is a German semiconductor manufacturing corporation. It has been founded 1999 as a spin-off from Siemens AG and the headquarteres of the company are in Neubiberg, Germany. Today, Infineon belongs to the DAX index and one can trade it under the ticker $IFX at Frankfurt Stock Exchange. The company is the world leader in automotive and power semiconductors. Worldwide, Infineon counts more than 45’000 employees.

Infineon Monthly Elliott wave analysis 04.16.2021

The monthly chart below shows the Infineon shares $IFX traded at Frankfurt Stock Exchange. From the all-time lows, the stock price has developed a cycle higher in wave ((I)) towards the 77.57 highs. There, in June 2000, it has printed the all-time highs. After the primary impulse higher, a correction lower in wave ((II)) has ended on March 2009 at 0.31.

From the March 2009 lows, a new cycle in wave ((III)) has started and develops a series of nests. First of all, a cycle higher as a blue wave (I) has ended in June 2018 at 25.76. Hereby, within the impulsive advance, all the subways I, III and V are impulsive waves, too. Wave III demonstrates a clear extension in price. From the June 2018 highs, a correction in wave (II) lower has unfolded as a double three pattern. It has printed the low in March 2020 at 10.13.

From the March 2020 lows, a new cycle in wave (III) of ((III)) has already started. As a matter of fact, the break of 25.76 has confirmed that. As of right now, the price is within red wave I of blue wave (III). Once finished, pullback in wave II should find support in 3, 7, 11 swings above 10.13 lows for another extension higher in wave III. Therefore, investors and traders can be looking to buy Infineon targeting the 77.97-125.94 area in a longer view.

Infineon daily Elliott wave analysis 04.16.2021

The Daily chart below shows the $IFX shares price action in more detail. From the March 2020 lows at 10.13, the stock price has advanced in black waves ((1)) – ((3)) of the red wave I. The correction lower in wave ((4)) has ended at 31.61. While above there, the Infineon stock is within black wave ((5)) of red wave I. Once the march 2020 cycle in wave I has finished, expect a pullback in wave II to find support in 3, 7 or 11 swings above 10.13 lows for an expected acceleration in wave III of (III).