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Monster Beverage Corp., Elliott Wave Technical Analysis

Monster Beverage Corp.,  (Nasdaq: MNST): Daily Chart, 21 August 2023

MNST Stock Market Analysis: Looking for additional upside here on Monster Beverage as we seem to have an incomplete bullish sequence. We had wave {iii} being very close to the length of wave {i}, which is why we could be expect an extended wave {v}.

MNST Elliott Wave Count: Wave {v} of 3.  

MNST Technical Indicators: In between averages.

MNST Trading Strategy: Looking for upside into wave {v} with invalidation level at the bottom of wave (i).

Analyst: Alessio Barretta

Monster Beverage Corp., MNST: 1-hour Chart, 21 August 2023

Monster Beverage Corp., Elliott Wave Technical Analysis
MNST Stock Market Analysis: Looking for a potential flat correction into wave (ii) as I expect additional downside into the last leg of wave c. After that we need to see upside confirmation.  

MNST Elliott Wave count:  Wave c of (ii).

MNST Technical Indicators: Below all averages.

MNST Trading Strategy: Looking for upside confirmation after wave 5 of c.

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