Elbit Systems Ltd., Elliott Wave Technical Analysis

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Elbit Systems Ltd., (ESLT): Daily Chart, Monday, July 24

ESLT Stock Market Analysis: We have been looking for upside into wave 1 for quite some time now and it looks like we could have come to an end of this up move. Looking for confirmation lower we finished wave 1 to then look for longs into wave 3.  

ESLT Elliott Wave Count: Wave {a} of 2.

ESLT Technical Indicators: Above all averages.

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

TradingLounge Analyst: Alessio Barretta

Elbit Systems Ltd., ESLT: 4-hour Chart, Monday, July 24

Elbit Systems Ltd., Elliott Wave Technical Analysis

ESLT Stock Market Analysis: We clearly reach equality of wave {v} vs. {i}, which is a very common target for a wave five. At this point we would find support ideally around the wave {iv} of minute degree.  

ESLT Elliott Wave count: Wave {a} of 2.  

ESLT Technical Indicators: Above all averages

ESLT Trading Strategy: Looking for additional downside into wave 2.

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