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Alphabet Inc., Elliot Wave Analysis

11/8/2022 10:10 AM

A fall is possible.

On the daily chart, the third wave of the higher level (3) formed, and a downward correction develops as the fourth wave (4), taking a shape of the double zigzag WXY. Now, the wave Y of (4) is developing, within which the wave a of Y has formed, the wave b of Y has ended, and the wave c of Y is forming. If the assumption is correct, the price of the asset will fall to the area of 77.50–70.00. In this scenario, critical stop loss level is 96.70.

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