Elbit Systems Ltd., Elliott Wave Technical Analysis October 4 2022

Elliott Wave Analyst - tradinglounge • Oct 4, 2022 at 6:50 AM EDT

Looking for further downside as we can see what appears to be aleading diagonal in wave {i}

Elbit Systems Ltd., Elliott Wave Technical Analysis

Elbit Systems Ltd., (ESLT): Daily Chart, October 4 2022,

ESLT Stock Market Analysis: Looking for further downside as we can see what appears to be a leading diagonal in wave {i}

ESLT Elliott Wave count: {iii} of C.

ESLT Technical Indicators: All indicators are signaling bearish momentum with the 20 and 200EMAs trying to cross.

ESLT Trading Strategy: Looking to short on wave (iv) and {iv}.

(Click on image to enlarge)

Elbit Systems Ltd., ESLT: 4-hour Chart, October 4 2022

Elbit Systems Ltd., Elliott Wave Technical Analysis

ESLT Stock Market Analysis: Looking for further downside as the whole move down appears tobe incomplete.

ESLT Elliott Wave count: (iv) of {iii}.

ESLT Technical Indicators: All indicator are bearish with the 20 EMA(red line) potentially acting as resistance.

ESLT Trading Strategy: Looking to short even in this wave (iv) with a stop below the low of wave (ii).

(Click on image to enlarge)

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