Elliott Wave Technical Analysis: DexCom Inc, May 1

By Peter Mathers of Trading Lounge

Monday, May 1, 2023 7:03 AM EDT

DexCom Inc., Elliott Wave Technical Analysis

DexCom Inc., (DXCM): Daily Chart, May 1

DXCM Stock Market Analysis: We broke through confirmation by breaking the green line and we are pulling back as expected. Looking for further upside into wave 3.

DXCM Elliott Wave Count: Wave 2 of (C).

DXCM Technical Indicators: Above all averages.

DXCM Trading Strategy: Looking for a pullback into wave 2 to then look for longs.

TradingLounge Analyst: Alessio Barretta

DexCom Inc., DXCM: 4-hour Chart, May 1

DexCom Inc., Elliott Wave Technical Analysis
DXCM Stock Market Analysis: By looking at the smaller timeframes it looks like we could have had a three wave move into wave 2 completed. We could start looking for longs with a stop at the end of wave E, allowing for a double correction lower into wave 2 of (C).

DXCM Elliott Wave count: Wave 2 of (C).

DXCM Technical Indicators: 20EMA as resistance.

DXCM Trading Strategy: Looking longs with a stop at the end of wave E.