Elliott Wave Technical Analysis: Analog Devices, Monday, Dec. 5

Elliott Wave Analyst - tradinglounge • Dec 5, 2022 at 4:52 AM EST

With Analog Devices Inc. investors should be looking for longs into wave {v} being aware that the upside should be limited. Caution ahead.

Analog Devices Inc., Elliott Wave Technical Analysis

Analog Devices Inc., (ADI): Daily Chart, December 5 2022,
ADI Stock Market Analysis: I slightly changed the count to allow for further upside into one last move higher in wave {v}.

ADI Elliott Wave Count: Wave {iv} of 1.

ADI Technical Indicators: Above all EMAs.

ADI Trading Strategy: Looking for longs into wave {v} being aware that the upside should be limited.

TradingLounge Analyst: Alessio Barretta

Analog Devices Inc., ADI: 4-hour Chart, December 5 2022

Analog Devices Inc., Elliott Wave Technical Analysis
ADI Stock Market Analysis: Looking for wave {iv} to potentially be a running flat as it stands right now. We are seeing bearish RSI divergence which could signify an imminent wave {v}

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

ADI Technical Indicators: 20EMA currently acting as support.

ADI Trading Strategy: Could be looking for longs with a stop below wave (iv) or else wait for further confirmation.

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