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Alphabet Inc., Elliot Wave Analysis

12/20/2022 10:22 AM

The price is in a correction and may grow.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), shaped as the double zigzag WXY, and the formation of the fifth wave (5) started. Now, the first entry wave of the lower level 1 of (5) is developing, within which the wave i of 1 has formed, and a local correction is developing as the wave ii of 1. If the assumption is correct, the asset will grow to the area of 122.30–143.90. In this scenario, critical stop loss level is 83.55.

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