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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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