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Alphabet Inc., Elliot Wave Analysis

1/17/2023 10:10 AM

Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), shaped as double zigzag WXY, and the development of the fifth wave (5) started. Now, the first entry wave of the lower level 1 of (5) is forming, within which the wave i of 1 has formed, a local correction has ended as the wave ii of 1, and the wave iii of 1 is developing. 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 84.85.

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