GOOGL Elliott Wave Analysis – Trading Lounge Daily Chart

Alphabet Inc. (GOOGL) – Daily Chart

GOOGL Elliott Wave Technical Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Minor Wave 1
• Direction: Bottom in Wave 2

Details:

• A sharp pullback is expected in Minor Wave 2 after a top in wave 1 of (3).
• Possibility that wave (1) may need to be repositioned, potentially signaling a larger correction.

GOOGL Elliott Wave Analysis – Trading Lounge 1H Chart

Alphabet Inc. (GOOGL) – 1H Chart

GOOGL Elliott Wave Technical Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave {c} of 2
• Direction: Bottom in Wave 2

Details:

• Looking for a potential bottom in wave 2, either already in place or forming soon.
• A three-wave move in wave 2 is visible, suggesting the end of the current corrective phase.

GOOGL Elliott Wave Technical Analysis – Summary

Daily Chart

• GOOGL is in an impulsive trend within a motive structure, currently observing a correction in Minor Wave 2.
• After reaching a top in wave 1 of (3), the stock is undergoing a sharp pullback, possibly indicating the beginning of a larger corrective phase.
• Wave 2 pullback should ideally set the stage for the next upside movement once completed.

1H Chart

• GOOGL is nearing the completion of wave {c} of 2, marking the end of the current corrective phase.
• A three-wave structure is forming in wave 2, suggesting a potential bottom is either already in place or developing soon.
• This could signal the start of a new impulsive wave in the next upward trend.

Technical Analyst: Alessio Barretta

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