🚨 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Conduct your own due diligence before making any trading or investment decisions.
Elliott Wave Structure:
Macro Structure: - Alphabet is in a long-term bullish Elliott Wave cycle on the weekly timeframe. - The chart showcases a completed Major Wave (I) and is now likely entering a corrective Wave (II) before continuing upward into Wave (III).
Wave (I) Completion: - Wave (I) ended near $240 after a five-wave impulsive structure. - Alphabet is now entering a potential corrective phase, aiming to complete an ABC structure in Wave (II).
Current Levels: - Price: $189.30 - Alphabet is consolidating after the peak of Wave (I), showing signs of an impending corrective pullback.
Invalidation Level: - The invalidation level for the bullish wave count is $83.56. A break below this level would negate the current Elliott Wave structure.
Support and Resistance Zones: Key Support Levels: - $175 - $160: Expected support zone during the corrective Wave (II). - $150 - $140: Deeper retracement zone in case of extended corrections.
Key Resistance Levels: - $210 - $220: Immediate resistance zone during the ABC corrective phase. - $250+: Breakout level for Wave (III) continuation.
For Long-Term Investors:
The bullish long-term structure is intact. Consider accumulating shares during corrective pullbacks near the $175 - $160 support zones.
Macro Catalysts to Monitor: - Earnings Reports: Alphabet’s advertising revenue and cloud growth will be critical to validate its bullish trajectory. - Sector Performance: Tech sector recovery and broader market sentiment will significantly impact Alphabet’s stock performance. - Macroeconomic Environment: Federal Reserve policies, interest rates, and economic data could influence market momentum.
Conclusion: Alphabet remains a long-term bullish candidate with a promising Elliott Wave structure. While short-term corrections are expected, the macro trend points to a continuation toward $300 and beyond in Wave (III).
💡 What's your take on Alphabet’s outlook? Drop your thoughts or questions below! 🚀
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