GOOGL Elliott Wave Analysis Trading Lounge

Alphabet Inc., (GOOGL) Daily Chart

GOOGL Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minor wave 1.

DIRECTION: Upside within wave {v} of 1.

DETAILS: We are looking for upside into wave 1 of (3), which is our more conservative approach. As we are trading just around 200$ we would not be surprised to see a larger pullback in what could be wave 2.

Alphabet Inc., (GOOGL) 1H Chart

GOOGL Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (iii) of {v}.

DIRECTION: Top in wave {v}.

DETAILS: Looking for upside into wave {v}, the support found on the parallel trend channel seems to provide us with additional confidence on the overall count.

This Elliott Wave analysis for Alphabet Inc., (GOOGL) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.

* GOOGL Elliott Wave Technical Analysis – Daily Chart*

Alphabet Inc. (GOOGL) is currently experiencing an upside move in wave 1 of (3), following a more conservative approach. As the stock trades near the $200 level, there is a potential for a larger pullback, likely forming wave 2. This suggests that a near-term correction could occur before the next bullish phase begins.

* GOOGL Elliott Wave Technical Analysis – 1H Chart*

We are anticipating further upside into wave {v}. The support provided by the parallel trend channel strengthens the overall bullish outlook for GOOGL. This indicates that the current structure could see completion with further gains before a potential pullback.

Technical Analyst : Alessio Barretta

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