ADI Elliott Wave Analysis Trading Lounge

Analog Devices Inc., (ADI) Daily Chart

ADI Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {ii} of 1.

DIRECTION: Upside into wave {iii}.

DETAILS: Looking for a bottom in wave {ii} to then continue higher as we are currently trading within the range of Minor Group1 at 210-230$.

Analog Devices Inc., (ADI) 1H Chart

ADI Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (b) of {ii}.

DIRECTION: Bottom in wave {ii}.

DETAILS: This would be the only scenario suggesting we ae in a wave {ii} and we are headed towards the end of {ii} in wave (c) after a triangle in wave (b).

This Elliott Wave analysis of Analog Devices Inc., (ADI) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.

* ADI Elliott Wave Technical Analysis – Daily Chart*

The daily chart suggests that ADI is in wave {ii} of a larger impulsive structure. The current price action is within the MinorGroup1 range of $210-$230, indicating that a bottom may be forming soon. After this, we expect wave {ii} to complete, leading to a strong move upward into wave {iii}.

* ADI Elliott Wave Technical Analysis – 1H Chart*

The 1-hour chart shows that ADI is currently in wave (b) of {ii}, and a triangle pattern seems to have formed in this corrective wave. The next move is expected to be a drop into wave (c) of {ii}, completing the correction before a bullish reversal takes place in wave {iii}.

Technical Analyst: Alessio Barretta

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