Elliott Wave Technical Analysis: Analog Devices Inc. - Thursday, Jan. 12

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Jan 12, 2023 at 8:00 AM EST

Looking for resistance around the 61.8% retracement. The invalidation level would be a break of the red line which would confirm the idea that wave 2 is completed.

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Analog Devices Inc., Elliott Wave Technical Analysis

Analog Devices Inc., (Nasdaq: ADI): Daily Chart, 12 January 23,

ADI Stock Market Analysis: We are witnessing a larger retracement which seems to correspond to wave 2. We could still be in wave {b} of 2 or else we have completed wave 2 already.

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

ADI Technical Indicators: Above all averages

ADI Trading Strategy: Looking for shorts into wave {c}.

Analyst: Alessio Barretta

Analog Devices Inc., ADI:4-hour Chart, 12 January 23,

Analog Devices Inc., Elliott Wave Technical Analysis

ADI Stock Market Analysis: Looking for resistance around the 61.8% retracement. The invalidation level would be a break of the red line which would confirm the idea that wave 2 is completed.

ADI Elliott Wave count: Wave (c) of {c}.

ADI Technical Indicators: Above all averages

ADI Trading Strategy: Looking for shorts on wave {b}, confirmation is needed first.

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