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

Man, Computer, Stock Trading, Iphone, Hands, Finance

Image Source: Pixabay
 

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).  


More By This Author:

SP500 & Nasdaq Elliott Wave Analysis
Elliott Wave Technical Analysis: The Trader Desk Inc. - Tuesday, Nov. 8
Elliott Wave Technical Analysis: Dogecoin, Tuesday, Nov. 8

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 ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with