Elliott Wave Technical Analysis: KLA Corp., Monday, Nov. 7

Elliott Wave Analyst - tradinglounge • Nov 7, 2022 at 7:24 AM EST

KLA Corp. is moving as predicted in the last forecast. It looks like we can have a five wave move off the lows which suggests the uptrend could have resumed.

KLA Corp., Elliott Wave Technical Analysis

KLA Corp., (KLAC): Daily Chart, November 7, 2022

KLAC Stock Market Analysis: Moving as predicted in the last forecast. It looks like we can have a five wave move off the lows which suggests the uptrend could have resumed.

KLAC Elliott Wave Count: Wave {i} of 5.

KLAC Technical Indicators: Using the 20EMA as support and the 200EMA as resistance.

KLAC Trading Strategy: Looking for a larger pullback into potential wave {ii} to then place longs.

TradingLounge Analyst: Alessio Barretta

KLA Corp., KLAC: 4-hour Chart, November 7, 2022

KLA Corp., Elliott Wave Technical Analysis

KLAC Stock Market Analysis: We are approaching the yellow area which represents the areabetween the 0.618 and equality of (i) vs (v) which is where I would most likely assume we will be facing resistance.

KLAC Elliott Wave count: Wave (v) of {i}.

KLAC Technical Indicators: Above all EMAs.

KLAC Trading Strategy:You may look for very short term longs into wave (v).

More By This Author:

US Stock Market Analysis Today
Honeywell International Inc Elliott Wave Technical Analysis - Friday, Nov. 4th
DAX 40, FTSE 100, EUROSTOXX 50, DXY, GBPUSD, EURUSD - Elliott Wave Technical Analysis

Disclosure:

As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.

STOCKS IN THIS ARTICLE

Comments

Back to all articles