Elliott Wave Technical Analysis: Monster Beverage Corp. - Friday, July 28
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Monster Beverage Corp., Elliott Wave Technical Analysis
Monster Beverage Corp., (Nasdaq: MNST): Daily Chart 28 July 2023
MNST Stock Market Analysis: We have been moving higher as we expected, after the potential bottom in wave {iv}. Looking for further upside to confirm the bottom is in, or else we could still double correct lower into a more complicated wave {iv}.
MNST Elliott Wave Count: Wave {v} of 3.
MNST Technical Indicators: Above all averages.
MNST Trading Strategy: Looking for a continuation higher into wave {v} as long as downside pullbacks look corrective in nature.
Analyst: Alessio Barretta
Monster Beverage Corp., MNST: 4-hour Chart 28 July 2023
Monster Beverage Corp., Elliott Wave Technical Analysis
MNST Stock Market Analysis: Looking for a nest within wave iii as the pullbacks seem to be three wave moves, therefore corrective in nature. We have faced resistance off equality of wave i and upside target for wave iii is at least 60.24$.
MNST Elliott Wave count: Wave 2 of iii
MNST Technical Indicators: 20EMA as support.
MNST Trading Strategy: Looking for upside into wave 3 of iii to move higher soon.
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