Elliott Wave Technical Analysis: Elbit, Monday, Feb. 27

Elbit Systems Ltd., Elliott Wave Technical Analysis

Image: Elbit Systems

Elbit Systems Ltd., (ESLT): Daily Chart, Feb. 27

ESLT Stock Market Analysis: We are expecting five waves down into wave C of (2) after the sharp rally that we had until last summer. At this point we are looking for one last move lower before looking for upside.  

ESLT Elliott Wave Count:  Wave {v} of C.

ESLT Technical Indicators: Bouncing around the 20EMa.  

ESLT Trading Strategy: Looking for one last move down before upside continuation.  

TradingLounge Analyst: Alessio Barretta


Elbit Systems Ltd., ESLT: 4-hour Chart, Feb. 27

Elbit Systems Ltd., Elliott Wave Technical Analysis
ESLT Stock Market Analysis: I was expecting a flat in wave {iv} as the most recent move down looked like a three wave move. Therefore I expect further upside to complete (c) to then resume lower.  

ESLT Elliott Wave count:  Wave (c) of {iv}.

ESLT Technical Indicators: Above 20EMA

ESLT Trading Strategy: Looking for further upside into wave (c) to then resume lower. 

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