KLA Corp. Elliott Wave Technical Analysis For August 31, 2022

We are at equality of wave (a) & c), which is often times a zone where we start to see reversals. The move lower in wave c) does not look completed. We are sitting at the 200EMA as well as we are moving lower on the RSI indicating a loss in momentum.

KLA Corp., Elliott Wave Technical Analysis

KLA Corp., (KLAC): Daily Chart, August 31, 2022, 

 
KLACStock Market Analysis:We have reached equality of wave (a) and c), which is often times a zone where we start to see reversals. However the move lower in wave c) does not look completed.

KLAC Elliott Wave count:  c) of {ii}
KLACTrading Strategy: Looking for the completion of wave {ii} to then look for longs.

KLACTechnical Indicators:We are sitting at the 200EMA(purple line) as well as we are moving lower on the RSI indicating a loss in momentum.

TradingLounge Analyst: Alessio Barretta

KLA Corp., KLAC: 4-hour Chart, August 31 2022, 

KLA Corp., Elliott Wave Technical Analysis
KLAC Stock Market Analysis: Looking for continuation lower into wave iii of (v) as the move lower into wave c) looks like an incomplete bearish move.

KLACElliott Wave count:  Wave iii of (v).
KLAC Technical Indicators:Indicators suggest for further downside as we are below all averages.

KLACTrading Strategy: We could look for short term short positions to unfold to complete wave {ii}.


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