Elliott Wave Technical Analysis: Analog Devices Inc. - Wednesday, Nov. 9

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Analog Devices Inc., Elliott Wave Technical Analysis

Analog Devices Inc., (Nasdaq: ADI): Daily Chart, November 9, 2022,  
ADI Stock Market Analysis: Moving perfectly as expected from the previous forecast. We are looking for an overall resumption of the previous uptrend. Looking to see further upside before considering long-term positions.  

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

ADI Technical Indicators: 200EMA acting as resistance.  

ADI Trading Strategy: Looking for an established and clear five-wave move to the upside into wave 1.  

Analyst: Alessio Barretta

Analog Devices Inc., ADI: 4-hour Chart, November 9, 2022

Analog Devices Inc., Elliott Wave Technical Analysis
ADI Stock Market Analysis: Potentially we are within a wave {iii} meaning that we should be able to identify five subwaves. It looks like we are forming wave (iv) of {iii}.

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

ADI Technical Indicators: Using the 200EMA as support.  

ADI Trading Strategy: Looking for a short-term long position if we are able to get a clearer view of the nature of potential wave (iv).  

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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 ...

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