Image Source: Pixabay
 

Monster Beverage Corp., Elliott Wave Technical Analysis

Monster Beverage Corp., (Nasdaq: MNST): Daily Chart, 28 June 2023.

MNST Stock Market Analysis: Looking for further upside into wave {iii} as we have only reached equality of {iii} vs. {i} and we are looking for further upside.  

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

MNST Technical Indicators: Below all averages.

MNST Trading Strategy: Looking for upside into wave (v) with an invalidation level at $56.5.

Analyst: Alessio Barretta

Monster Beverage Corp., MNST: 4-hour Chart, 28 June 2023

Monster Beverage Corp., Elliott Wave Technical Analysis
MNST Stock Market Analysis: We reacted off 61.8% c vs. a and we broke the wave b top. At this point, we either have a flat wave ii or else we had a three wave move into the 60$ and we are now moving sideways within wave (iv).

MNST Elliott Wave count:  Wave ii of (v)

MNST Technical Indicators: Below 20EMA

MNST Trading Strategy: Looking for longs with stops at $56.5.

More By This Author:

Elliott Wave Technical Analysis: NEO/U.S. Dollar - Wednesday, June 28
Global Stock Markets - Elliot Wave Technical Analysis
Elliott Wave Technical Analysis: Texas Instruments Inc. - Tuesday, June 27