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Alphabet Inc., Elliot Wave Analysis

11/22/2022 10:34 AM

Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, and a downward correction ended as the fourth wave (4), shaped as double zigzag WXY. Now, the formation of the fifth wave (5) has started, within which the first entry wave of the lower level i of 1 of (5) is developing. If the assumption is correct, the price of the asset will grow to the area of 122.30–143.90. In this scenario, critical stop loss level is 83.52.

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