Elliott Wave Technical Analysis: Analog Devices Inc. - Monday, Nov. 28

Elliott Wave Analyst - tradinglounge • Nov 28, 2022 at 3:00 AM EST

For Analog Devices stock we are anticipating a potential top in place while we were still looking for short term trades into wave {v}. At this point it looks like we might have topped and are ready to resume lower.

Analog Devices Inc., Elliott Wave Technical Analysis

Analog Devices Inc., (ADI): Daily Chart, November 28 2022,

ADI Stock Market Analysis: We are anticipating a potential top in place while we were still looking for short term trades into wave {v}. At this point it looks like we might have topped and are ready to resume lower.

ADI Elliott Wave Count: Wave {a} of 2.

ADI Technical Indicators: Above all averages.

ADI Trading Strategy: Looking for further developments into wave 2 to then place long term longs.

TradingLounge Analyst: Alessio Barretta

Analog Devices Inc., ADI: 4-hour Chart, November 28 2022

Analog Devices Inc., Elliott Wave Technical Analysis

ADI Stock Market Analysis: As the RSI also suggests we may have topped in wave {v} as we’ve had divergence between the top of {v} and {iii}. Looking for further downside.

ADI Elliott Wave count: Wave i of {a}.

ADI Technical Indicators: Above all averages, while 100 and 200EMAs are crossing.

ADI Trading Strategy: If volatility rises we could look for short term shorts.

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