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Monster Beverage Corp., Elliott Wave Technical Analysis

Monster Beverage Corp.,  (Nasdaq: MNST): Daily Chart, 7 September 2023

MNST Stock Market Analysis: We have been looking for a wave {iv} for quite some time now, but we continue moving sideways, showing the corrective nature of the correction. We could have found a bottom or else we could be completing this correction into a triangle.  

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

MNST Technical Indicators: Between 20 and 200EMA.  

MNST Trading Strategy: Looking for longs into wave {v}.

Analyst: Alessio Barretta

Monster Beverage Corp., MNST: 1-hour Chart 7 September 2023

Monster Beverage Corp., Elliott Wave Technical Analysis
MNST Stock Market Analysis: Looking for a potential bottom at $55.04 as we have a three wave move into potential wave (ii) which broke past equality of c vs. a and it is now trying to go back higher. We need confirmation with a break of the wave b top.

MNST Elliott Wave count:  Wave (ii) of {v}.

MNST Technical Indicators: Below all averages.  

MNST Trading Strategy: Looking for longs after a break of wave b.

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