Elliott Wave Technical Analysis : Analog Devices Inc - Friday, June 9

By Peter Mathers of Trading Lounge

Friday, June 9, 2023 3:58 AM EST

Analog Devices Inc., Elliott Wave Technical Analysis

Analog Devices Inc., (ADI): Daily Chart, 9 June 23,

ADI Stock Market Analysis: We were tracking the possibility of wave 2 to be complete as we had a clear three wave move into wave 2. We are starting to resume higher as we are looking for place longs on the way up.

ADI Elliott Wave Count: Wave {i} of 3.

ADI Technical Indicators: 20EMA as support.

ADI Trading Strategy: Looking for upside, we need to break wave 1 in a five wave manner to have additional confirmation.

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Analog Devices Inc., ADI: 4-hour Chart, 9 June 23

Analog Devices Inc., Elliott Wave Technical Analysis
ADI Stock Market Analysis: Looking for further upside as we potentially complete wave (i) and (ii) with the red line acting as invalidation level. We broke the top of (i) as we seem to be in wave iv of some degree.

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

ADI Technical Indicators: Above all averages.

ADI Trading Strategy: Looking for five waves up into wave (iii).

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