Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
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84
www.elliottwave-forecast.com
Unilever is a multinational consumer goods corporation. Unilever products include food, condiments, ice cream, coffee, cleaning agents, pet food, beauty products, personal care and more. Founded 1919 by the merger of the Dutch margarine producer Margarine Unie and the British soapmaker Lever Brothers, it is headquartered in London, UK. Unilever is a part of FTSE 100, AEX and Eurostoxx 50 indices. Investors can trade it under the tickers $ULVR at LSE, $UNA at Euronext Amsterdam and under $UL at NYSE. Corporation Unilever owns over 400 brands. Among them, the trademarks like Dove, Omo/Persil, Knorr, Lipton, Magnum, Rexona/Degree and others. The company products are present in 190 countries.

The stock price of Unilever is in a permanent rally from the all-time lows. From march 2020 bottom, one can see a new cycle higher. This might be the final push higher within the larger cycle. Once ended, Unilever should pull back against the all-time lows which will provide again an opportunity to join the success story of Unilever stock price action.

In the initial article from October 2021, we have provided with an area where investors can join the rally. As a matter of fact, the price made a dip into 40.36-38.42 area and now it is reacting higher. In current blog, we discuss the price behavior and targets in short-to-medium term.

Unilever Monthly Elliott Wave Analysis 02.20.2023​

The monthly chart below shows the Unilever shares $UNA traded at Euronext Amsterdam. From the all-time lows, the stock price is within the larger impulse as wave ((I)). Hereby, Unilever has finished the waves (I)-(III) by printing the all-time high on September 2019 at 57.77. Within the impulsive advance in wave (III), the internals I and III are impulsive waves, too. From the September 2019 highs, a correction lower in wave (IV) has ended on March 2020 at 38.42. From the lows, a new cycle in wave (V) might be in progress and should break to the new all-time highs. The target for wave (V) to end will be 1.236-1.618 multiples of the length of the wave (IV) which is 62.33-69.72 area.

Unilever Elliott Wave Monthly

Unilever Weekly Elliott Wave Analysis 02.20.2023​

The Weekly chart below shows the $UNA shares price action in more detail. In particular, it demonstrates the first nest consisting of red waves I-II. Also, it shows the first stages of the wave III. From the March 2020 low, a cycle in wave I has unfolded as an impulse. It has ended in November 2020 at 53.66 high. From there, a correction lower in wave II shows a double three structure. First, black wave ((W)) has ended in February 2021 at 43.00 lows. Then, a connector in black wave ((X)) has printed a lower high in June 2021 at 51.05. From there, wave ((Y)) has broken 43.00 lows opening up a bearish sequence. Finally, it has reached the 40.36-38.42 blue box area. There, reaction higher is taking place. Moreover, one can see 5 waves up. This supports the bullish outlook. It is the preferred view that wave II has ended on March 2022 and and the red wave III is in progress.

Investors and traders should stay long $UNA from 40.36-38.42 blue box area targeting 54.55-63.96 area and even higher in the medium-term.

Unilever Elliott Wave Weekly

Source: https://elliottwave-forecast.com/stock-market/unilever-reaction-weekly-bluebox/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Hello Traders in this blog we will be going through Avalanche which is a crypto related instrument. Since it's first peak from November 2021 to end a larger degree cycle in (I) it was been correcting lower. It appeared to to have reached equal legs area recently. Already it has been reacting higher from the area from 10.80. The market nowadays mainly is being traded by high frequency machines. That made us here at Elliott Wave Forecast to develop a system that allows us to project the market in a relevant way to match the way the market is being traded. Let's have a look on AVAX/USDT weekly cycle.

AVAX/USDT Weekly Cycle 02.21.2023​

Avalanche Long - Term Elliott Wave Analysis 02.21.2023
As we can see Avalanche made 5 waves lower from November peak in which ended a. That was the first leg of the corrective decline within larger degree (II). Then it bounced within b in a ((W)) - ((X)) - ((Y)) corrective bounce. And from there it started the potentially last leg lower in c within 5 waves lower. Ever since it broke below a we were able to project the equal legs area lower in which we call high frequency area. High frequency areas in which both sides of the market agree in the next direction of the market. Buyers and sellers fight and the winners control the next wave or cycle. Avalanche has reached the area in which starts from 10.80 to end (II) and we have already seen the first leg reaction higher in wave (1) of ((1)) of I.

What we can expect next in pullback in (2) to take place. Afterwards it should find support to extend higher within wave (3). And lastly a pullback in (4) and one more high in (5) to end wave ((1)). Pullback in ((2)) before extends higher in ((3)) then makes a ((4)) and a ((5)) to end I. After I ends a larger pullback in II should take place before further upside longer term.

Let's have a look as well within the daily cycle of Avalanche since it reached equal legs at 10.52 area.

AVAX/USDT Daily cycle 02.21.2023​

Avalanche Long - Term Elliott Wave Analysis 02.21.2023

As we can see it has ended wave (1) and is trading within wave B of (2). After a new low in C of (2) it should find support to continue higher in wave (3). You can get long term analysis like that by becoming a member here at Elliott Wave Forecast. In our Group 2 instruments we do cover cryptos such as Bitcoin, Ethereum, Litecoin, Cardano, Matic & Dogecoin. You can learn how to trade the right side and when to enter and/or exit the market. Alongside with daily Live Analysis Sessions & Live Trading Room. On top of that we have a 24 hour live chat and chat room in which we answer any questions for each instrument. Click the links below to sign up or try first our 14 day trial.

Source: https://elliottwave-forecast.com/el...g-equal-legs-may-provide-the-next-leg-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
The EQT Corporation (NYSE: EQT) is a leading natural gas production company with operations across the United States. The company has a strong track record of generating significant returns for its shareholders through its efficient operations and commitment to responsible resource development.

EQT faced its longest bear market, lasting almost six years (69 months), following its peak in 2014. We observed that this bearish trend unfolded in an Elliott wave corrective structure, which we identified in our article back in 2019. Based on our analysis, we anticipated that the stock would reach a major bottom below $8 and subsequently experience a larger three-wave bounce in the future.

EQT 2019 Weekly Chart​

EQT Corporation Weekly Chart

Moving forward to the present time, EQT has experienced a massive rally, increasing more than 1000% in just two years. The rally unfolded in an impulsive five-wave structure, reaching its peak wave (I) at 51.97. Currently, a wave (II) is in progress as a three-wave zigzag structure, with the stock reaching the equal legs area of 29.85 - 20.49 as presented on the next chart.

The blue boxes in our charts are the High-frequency areas where the Markets are likely to end cycles and make a turn. Therefore that area will provide significant support for EQT, as buyers and investors are expected to take positions and prepare for the next weekly move.

However, it's worth noting that a break above the September 2022 peak is necessary to confirm this bullish trend. Without such a break, there is still a possibility for the stock to undergo a seven-swings correction lower before eventually making new highs.

For the stock to initiate a weekly bullish sequence that could break into new all-time highs, the first step is a move above the 2022 peak. If this occurs, we can look for targets of $75 - $100 on a monthly or yearly basis.

EQT Elliott Wave Weekly Chart 2023​

EQT Elliott Wave Weekly Chart 2.20.2023

In conclusion, the natural gas industry has experienced favorable market conditions and global events recently, providing an excellent opportunity for companies like EQT to thrive both fundamentally and technically.

Source: https://elliottwave-forecast.com/stock-market/eqt-corporation-solid-investment/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of E-Mini S&P 500 ( ES_F) published in members area of the website. As our members know ES_F ended cycle from the 3790.2 low as 5 waves structure and we have been forecasting the correction. In the further text we are going to explain the Elliott Wave Forecast.

ES_F Elliott Wave 1 Hour Chart 02.10.2022​

We are calling cycle from the 3790.2 low completed at the 4208.5 peak. Currently the ES_F is doing correction against the 3790.2 low. The price structure from the high looks like Elliott Wave Zig Zag Pattern. We assume ES_F is about to end first leg of pull back around 4084.3-4202.0 area. Buyers should ideally appear for the 3 waves pull back any moment. As far as the bounce holds below 4208.5 and that pivot holds intact, we expect further weakness ideally.

You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

ES_F

ES_F Elliott Wave 1 Hour Chart 02.16.2022​

ES_F made 3 waves bounce against the 4208.5 peak which held well during the rally. Correction ended at the 4185.7 high and now we assume next leg down is in progress. As far as the price stays below 4185.7 peak, ES_F should ideally see further weakness toward 4036.5-3943.3 area. From that zone we can get further rally in S&P 500 E-Mini Futures either toward new highs or in 3 waves bounce at least.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

ES_F

Source: https://elliottwave-forecast.com/stock-market/sp-500-spx-forecasting-path/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Dollar Index ( $DXY ). As our members know, Dollar is correcting the cycle from the 114.67 peak. Recovery is unfolding as Wave Zig Zag Pattern. In the further text we are going to explain the Elliott Wave Pattern and the Forecast.

Before we take a look at the real market example, let’s explain Elliott Wave Zigzag pattern.

Elliott Wave Zigzag is the most popular corrective pattern in Elliott Wave theory . It’s made of 3 swings which have 5-3-5 inner structure. Inner swings are labeled as A,B,C where A =5 waves, B=3 waves and C=5 waves. That means A and C can be either impulsive waves or diagonals. (Leading Diagonal in case of wave A or Ending in case of wave C) . Waves A and C must meet all conditions of being 5 wave structure, such as: having RSI divergency between wave subdivisions, ideal Fibonacci extensions and ideal retracements.

Dollar

Dollar H4 Elliott Wave Analysis 02.14.2022​

Dollar is doing recovery against the 114.67 peak. Current view suggests cycle from the 100.83 is in progress as potential Elliott Wave Zig Zag Pattern. We can count 5 waves up in A red wave and 3 waves down in B red. Consequently we expect to see another 5 waves up in C of (B). At this stage we assume B red is completed at 102.6 low. We would like to see break of 02/07 peak ( A red) to confirm C red wave is in progress.

You can learn more about Zig Zag Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.



Dollar

Dollar H4 Elliott Wave Analysis 02.16.2022​

Eventually Dollar has broken above 02/07 peak, confirming next leg up is in progress. Dollar is showing now incomplete higher-high sequences in the cycle from the 100.81 low, calling for further strength. As far as pivot at 102.6 low holds, Dollar can see extension toward 105.73+ area.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room.

Dollar

Source: https://elliottwave-forecast.com/elliottwave/dollar-index-dxy-elliott-wave-zig-zag/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
The Coca-Cola Company is an American multinational beverage corporation founded in 1892, best known as the producer of Coca-Cola. The Coca-Cola Company (KO) also manufactures, sells, and markets other non-alcoholic beverage concentrates and syrups, and alcoholic beverages.

In this blog we are going to analyze the possible Elliott Wave structures that could occur in the long term in KO shares and the different prices that must be considered when making trading decisions.

The first impulse since the beginnings of the company ended in 1998 and we labeled it as the wave ((I)). The retracement of this movement ended in 2003 and KO continued the rally. By the year of 2020 a new impulse ended and we labeled it as wave (I) and by March of the same year we had a strong pullback due to the COVID 19 pandemic. This pullback reached 36.27 as wave (II) and continued with the rally. The next rally ended at the price of 67.20 as wave I and from here we are going to analyze the different long-term alternatives.

KO Montly Chart. Agressive Bullish Continuation

KO Montly Chart Agressive Bullish Continuation

This chart makes an aggressive bullish continuation count. This structure is simple to determine. We just need to break through 67.20 and see an impulse higher to complete wave ((1)). If this happens, then we would have a bull market for the whole year 2023 before having a wave ((2)) retracement.

KO Montly Chart. Pullback and Bullish Continuation

KO Montly Chart. Pullback and Bullish Continuation

In this chart we also expect to continue rising. However, the difference with the previous one is that KO does not break above 67.20. We will first need to see a correction that holds above 54.02 before continuing the rally.

KO Montly Chart. Wave II No Completed

KO Montly Chart. Wave II No Completed

In the following structure wave II has not finished yet. We need KO to break below 54.02 to complete it. We must watch here, it is the formation of a bearish impulse with price breaking of 54.02 before looking for buy opportunities.

KO Montly Chart. Recession Structure

KO Montly Chart. Recession Structure

This last structure is recessive. The 5 bullish waves form a leading diagonal ending at 67.20 as wave ((I)). Therefore, the pullback from this level should be much deeper. This would happen as long as when KO breaks below the 54.02 level and it doesn't have enough buyers to break through 67.20 again. This would result in a sharp drop for this stock.

Source: https://elliottwave-forecast.com/stock-market/coke-ko-long-term-structures-key-levels/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Johnson Controls International plc, (JCI) engages in engineering, manufacturing, commissioning & retrofitting building products & systems in United States, Europe, Asia -Pacific and internationally. It operates in four segments like Building Solutions in North America, Building Solutions EMEA/LA, Building Solutions Asia-Pacific & Global products. It is based in Ireland, comes under Industrials sector & trades as “JCI” ticker at NYSE.

JCI has completed impulse sequence as wave I at $81.77 on 12/27/2021 started from March-2020 low. It proposed ended wave II at $45.52 low in zigzag correction & favors higher in ((1)) of III. It needs to breaks above I high to confirms the further upside.

JCI - Elliott Wave Latest Weekly View:​

It placed (II) correction at $22.77 low against 11/28/2016 high before new sequence started in wave I of (III). Above there, it placed ((1)) at $31.34 high & ((2)) at $26.23 low. Wave ((2)) was 0.618 Fibonacci retracement of ((2)) against ((1)). Later, it started third wave extension. It favored ended ((3)) at $81.15 high & ((4)) at $74.36 low. ((4)) was shallow correction followed by upside in ((5)). Finally, it finished ((5)) at $81.77 high on 12/27/2021 high as wave I.

JCI - Elliott Wave Latest Daily View:​

Below wave I high, it retraced in wave II as zigzag correction at $45.52 low in blue box area, where it found support for the next leg higher or at least larger 3 swing bounce. It placed ((A)) at $59.82 low, ((B)) at $67.99 high & ((C)) at $45.52 low. Above wave II low, it placed 1 of (1) at $59.58 high & 2 at $48.82 low as flat correction. It finished 3 at $68.65 high & 4 at $62.95 low as 0.236 Fibonacci retracement. Finally, it ended 5 at $69.60 high as (1). Below there, it favors pullback in (2) in 3, 7 or 11 swings, which should find support at extreme areas to see at least one more leg higher, while dips remain above $45.52 low.

Source: https://elliottwave-forecast.com/stock-market/jci-impulse-sequence-favors-further-upside/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Silver (XAGUSD) is currently correcting cycle from 9.1.2022 low. Unsurprisingly, silver miners also see the same pullback. For Pan American Silver (PAAS), the pullback is still ongoing to correct cycle from 11.9.2022 low at 13.39. As long as this level holds, there's a chance that the the stock can soon find support and turns higher. Below we update the outlook for the stock.

PAAS Monthly Elliott Wave Chart​



Monthly chart of PAAS above shows that the stock has ended all-time correction with wave ((II)) at 5.32. Up from there, stock has rallied in a new impulsive bullish leg with wave (I) ended at 40.11. Wave (II) low is also proposed complete at 13.4 on November 2022. Stock should resume higher in the next months to come while above wave (II) low at 13.4, but more importantly above wave ((II)) at 5.32.

PAAS Daily Elliott Wave Chart​



Daily Chart of Pan America Silver (PAAS) above suggests that the stock may have ended correction to cycle from January 2016 low at $13.39. We label this low as wave (II). Up from there, the stock has started a new leg higher as an impulse which ended wave ((1)) at 19.22. Pullback in wave ((2)) is in progress to correct cycle from 11.9.2022 low and can potentially retest this level at 13.39 before the stock turns higher. As far as pivot at 13.39 low stays intact, expect the stock to find support soon for the next leg higher.

Source: https://elliottwave-forecast.com/stock-market/pan-american-silver-paas-pullback-progress/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
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84
www.elliottwave-forecast.com
Hello Traders! In today’s article, we will look at the past performance of the 1 Hour Elliottwave chart of $AMD. The rally from 1.06.2023 low unfolded as 5 waves which created a bullish sequence in our system. Therefore, we knew that the structure in $AMD is incomplete to the upside & should see more strength in 3, 7 or 11 swings against 1.06.2023 low. So, we advised members to buy the bounces in 3, 7, or 11 swings at the blue box area. We will explain the structure & forecast below:

$AMD 1H Elliottwave Chart 2.17.2023:​

$AMD

Here is the 1H Elliottwave count from 2.17.2023. We were calling for the decline to find buyers in 3 swings at red 2 where we like to buy it at the equal legs at $77.68 with a stop at $72.43.

$AMD Latest Elliottwave Chart:​

$AMD

Here is the 2.22.2023 1H chart showing the move taking place as expected. The stock has reacted higher from the blue box to reach the 50% back from black ((b)) allowing any shorts to get risk free shortly after taking the position. We like to remain long targeting the equal legs area at $104.

Source: https://elliottwave-forecast.com/st...es-amd-perfect-reaction-higher-blue-box-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Beyond Meat Inc. is an US American designer and manufacturer of plant-based meat substitutes. The range of simulated products goes from chicken strips over beef burger and meat balls towards simulated meat sausages and should extend in the future. Today, the company owns three manufacturing facilities in the US, one manufacturing facility in Jiaxing, China, being the first full end-to-end facility outside US. Also, it has two service and distribution facilities in the Netherlands for the markets in Europe, Middle East and Africa. Founded 2009 and headquartered in El Segundo, California, US, it is a part of Russel 2000 small-cap index. Investors can trade it under the ticker $BYND at NASDAQ.

Beyond Meat Weekly Elliott Wave Analysis 02.26.2023​

The weekly chart below shows the Beyond Meat shares $BYND traded at NASDAQ. From the IPO in 2019, the stock price has developed an initial cycle higher in blue wave (I) of super cycle degree towards $239.71 all-time highs in July 2019. Then, a correction lower in blue wave (II) has unfolded as an Elliott wave regular flat pattern being 3-3-5 structure.

Firstly, 3 swings in red wave a of blue wave (II) have printed a low at $48.18 in March 2020. Then, a bounce has set a connector wave b at $221 highs in January 2021. Later on, the price has broken 48.18 lows opening up a bearish sequence. As a consequence, red wave c should have extended lower towards 29.74-0.00 area. Even though 1.236-1.618 extensions may reach deeper, the price can not go below zero. The impulse in red wave c has reached already the bouncing area. It is the the preferred view that the correction has ended in November 2022 at $11.00 lows. While above there, a new bullish cycle in blue wave (III) might have started. The target for the wave (III) is 251-400 area and even beyond.

Beyond Meat Elliott Wave Weekly

Beyond Meat 4 Hour Elliott Wave Analysis 02.26.2023​

The 4 Hour chart below shows in more detail the initial stages of the blue wave (III). From the November 2022 lows at $11.00, blue wave (1) has unfolded as a leading diagonal being 5-3-5-3-5 structure. It has ended at $20.14 highs in January 2022. From there, pullback in blue wave (2) shows an expanded flat structure. Now, while above 15.28 lows, next extension in blue wave (3) is in progress. Short-term, the target is 24.68-30.50 area and even beyond.

Investors and traders can buy $BYND from 29.74-0.00 area targeting 251-400 area in the long run.

Beyond Meat Elliott Wave 4 Hour

Source: https://elliottwave-forecast.com/video-blog/beyond-meat-next-bullish-cycle/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Hello Traders, in this article we will see how the NIKKEI ( JAPAN225 ) index has found support from equal legs area. Here at Elliott Wave Forecast we have developed a system that allows us to define areas of the market in which buyers and seller agree to a reaction. These are high frequency areas in which gives us at least an 85% chance of a 3 waves reaction from these areas. As soon as we can project an equal legs area we present it into our charts and our members know what they can expect. Nikkei has been trading within cycle from 02.06.2023 to complete its B leg lower. Consequently, having it's first leg lower and connector within the corrective bounce we have presented the equal legs area. Let's see the 1 hour update we presented to members from 02.22.2023 New York update.

NIKKEI 1 Hour New York update 02.22.2023​

Nikkei Short-Term Elliott Wave Analysis 02.22.2023
As we can see at that time we were within equal legs area of 27172 - 26790 area in which we were expecting a minimum of 3 waves bounce higher at least. Traders have a defined entry level with a defined Stop Loss at this point. As it is highly important to have a proper risk management system that allows you to enter and exit the market at all times. Next let's have a look at the aftermath after the update. We will check the latest Asia update from 02.28.2023.

NIKKEI 1 Hour Asia Update 02.28.2023​

Nikkei Short-Term Elliott Wave Analysis 02.28.2023
It has reacted as we were expecting within it' possible first leg up within wave ((i)). We can subdivide it into 5 waves in blue with internal waves in red as presented in the chart. What we can expect next from the instrument is to provide us with a 3 waves pullback within wave ((ii)) before finding more support to continue higher in wave ((iii)). NIKKEI belong to our Group 1 instruments amongst other Indices such as the SPX, FTSE, DOW JONES.

Source: https://elliottwave-forecast.com/stock-market/nikkei-japan225-found-support-from-equal-legs-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
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84
www.elliottwave-forecast.com
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of XME. We presented to members at the elliottwave-forecast. In which, the rally from 19 December 2022 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the ETF & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

XME 4-Hour Elliott Wave Chart From 2.23.2023​

XME Perfect Reaction Higher From Blue Box Area

Here’s 4 hr Elliott wave chart from the 2/23/2023 update. In which, the cycle from the 12/19/2023 low ended in wave 1 as an impulse structure at $59.46 high. Down from there, the ETF made a pullback in wave 2 to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) at $54.38 low. Wave ((x)) ended at $58.10 high and wave ((y)) managed to reach the blue box area at $53.03- $49.89 area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

XME 4 Hour Latest Elliott Wave Chart From 2.28.2023​

XME Perfect Reaction Higher From Blue Box Area

This is the latest 4 hr Elliott wave Chart from the 2/27/2022 update. In which the ETF is showing a strong reaction higher taking place, right after ending the double correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area.

Source: https://elliottwave-forecast.com/stock-market/xme-perfect-reaction-higher-blue-box/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Dogecoin (DOGE.X) is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a “joke”. It is considered both the first “meme coin”, and, more specifically, the first “dog coin”. It is an open-source peer-to-peer digital currency, favoured by Shiba Inus worldwide. At its heart, Dogecoin is the accidental crypto movement that makes people smile! It is also an open source peer-to-peer cryptocurrency that utilises blockchain technology, a highly secure decentralised system of storing information as a public ledger that is maintained by a network of computers called nodes. More than this, though, is the ethos of DOGE and its amazing, vibrant community made up of friendly folks just like you! It’s trading symbol is DOGE and when traded against US Dollar, it becomes DOGEUSD. Let's take a look at a 4 hour chart from 19 February 2023 in which we called the decline and latest chart after that.

Dogecoin 4 Hour Elliott Wave Analysis 19 February 2023​

DOGE completed a cycle from 12.30.2022 low at 02.04.2023 peak and has been in a pull back since then. It made an initial decline in three waves which ended on 02.09.2023 low. This was followed by three waves bounce into a secondary peak on 02.16.2023 after which Dogecoin turned lower again. We called for the decline to resume for a new low below 02.09.2023 low to form a double three Elliott wave structure.

Dogecoin 19 February 2023 4 Hour Elliott Wave Analysis

Dogecoin 4 Hour Elliott Wave Analysis 28 February 2023​

Chart below shows DOGE resumed the decline as expected on 02.19.2023 and it has already made a new low below 02.09.2023 low to create an incomplete bearish sequence against 02.16.2023 peak. This means bounces should now fail in 3, 7 or 11 swings below 02.16.2023 peak for extension lower toward 0.0708 - 0.0658 region to complete the sequence and then turn higher to resume the rally or bounce in 3 waves at least. Chart below shows wave (( x )) completed but until 02.25.2023 low doesn't break, another push higher in wave ((x)) can't be ruled out but again 02.16.2023 peak remains to be the key and while below there, another leg lower is expected to complete the sequence.

Dogecoin 4 Hour Elliott Wave Analysis 28 February 2023

Source: https://elliottwave-forecast.com/cryptos/dogecoin-incomplete-elliott-wave-sequence/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
C3.ai (NYSE: AI) made its debut on the New York Stock Exchange on December 9, 2020, with an initial public offering (IPO) that raised $651 million. Since then, the stock has been actively traded on the NYSE, with a current market capitalization of over $10 billion. As one of the newest players in the AI industry, C3.ai is making a name for itself with its innovative and scalable AI solutions that are designed to help companies optimize their operations and decision-making processes.

The glory days for C3.ai AI were short-lived. While the stock doubled in price in its first three weeks of trading after its IPO in December 2020, it soon entered a steep decline that lasted until December 28, 2021, resulting in a 94% decrease in value. However, the excitement surrounding artificial intelligence (AI) began to build in the last quarter of 2022, particularly following the release of a groundbreaking chatbot called chatgpt. This was among several factors that contributed to the recent strong reversal of C3.ai's stock.

In this article, we'll examine the Elliott wave technical structure leading up to this rally and explore the potential path for the rest of the year.

C3.ai (NYSE: AI) Weekly Elliott Wave Chart​

AI Weekly Elliott Wave Chart

The dominant trend since the peak of 183.9 in December 2020 has been to the downside. The price action can be characterized as a Zigzag structure (A)(B)(C), which is a 3-wave corrective pattern in the Elliott Wave theory. Typically, after this type of structure completes, the price will reverse to establish a new trend or at least correct the previous cycle. The potential for a strong move to the upside with a tasty risk-reward ratio exists for investors as the bounce could potentially reach the 38.2% - 61.8% Fibonacci retracement area, which is around $76 - $117.5. The stock cannot start the next upside move until the current pullback in wave (2) holds above the lows. As the price action develops in the coming weeks, we will have more data to confirm or deny the potential move.

C3.ai (NYSE: AI) 4 Hour Elliott Wave Chart​

AI 4 Hour Elliott Wave Chart

The 4H chart below provides a detailed view of the remarkable 200% rally from the low of $10.16. The stock's impulsive wave (1) peaked at $30.92, followed by an Elliott wave corrective move in wave (2). In the previous month, the stock underwent an initial 3 swings pullback into the 50% Fibonacci retracement level at 20.57, where wave W ended, then rebounded in wave X. However, the stock made a new marginal low today, indicating an incomplete bearish sequence from the wave (1) peak, suggesting that the correction may continue lower as a Double Three structure within wave (2), targeting the equal legs area of $16 - $13. If the price holds above the $10.16 level of , AI may experience another rally later in the year, following the new trend established earlier in January. However, the daily price action needs to be closely monitored to confirm any potential upward movement.

Source: https://elliottwave-forecast.com/video-blog/c3-ai-disrupting-tech-industry/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Block, Inc. (formerly Square, Inc.) is an American multinational technology conglomerate founded in 2009 and launched its first platform in 2010. It became a public company since November 2015 with the ticker symbol SQ. Square is a payments platform aimed at small and medium businesses. It allows them to accept credit card payments and use smartphone or tablets as payment registers for a point-of-sale system.

SQ 4 HOUR CHART MARCH 2023​

SQ 4 HOUR CHART MARCH 2023

SQ ended a Grand Super Cycle at $51.28 in Nov 2022 low and since then has doubled in value. The bounce built an impulse ending at $75.78 which we called wave (I). Then, It dropped as a flat correction that completed at $58.30 as wave (II) and continued the rally to form another impulse finished at $89.98. We labeled this new impulse as wave I and pull backed again in 3 waves doing a zig zag correction ended at $71.79 as wave II.

Starting at $71.79, Block's price has bounced in 3 waves and we are looking for 5 to complete a wave ((1)). After this, we must see a pullback in 3, 7 or 11 swings sequence as wave ((2)) to look for buying opportunities. The count is valid as long as market remains above $71.79 and would confirm the uptrend breaking the price of $89.98.

SQ 4 HOUR CHART MARCH 2023 ALTERNATIVE​

SQ 4 HOUR CHART MARCH 2023. Wave II is not completed.

An alternative to the main view is that wave II needs more downside as a double correction ((W)), ((X)), ((Y)). The current wave II would be the wave ((W)) subdivided into 3 waves. The corrective bounce would be the wave ((X)). Then, SQ would need 3 more waves down to complete the wave ((Y)) and the double correction. Here SQ should end wave II where we should look for buying opportunities waiting for a new rally. The count is valid as long as price does not drop below $58.30.

Source: https://elliottwave-forecast.com/stock-market/block-sq-ready-rally/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
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84
www.elliottwave-forecast.com
Freeport-McMoRan Inc., (FCX) engages in the mining of minerals in North America, South America & Indonesia. It primarily explores for Copper, Gold, Molybdenum, Silver & other metals, as well as Oil & gas. It is based in Phoenix, Arizona, US, comes under Basic Materials sector & trades as “FCX” ticker at NYSE.

FCX shown impulse sequence higher since January-2016 low, which ended at $51.99 high. Below there, it corrected in zigzag correction, which ended at $24.80 low between equal leg area before turning higher. It favors short term upside & confirms the new sequence higher above $51.99 high.

FCX - Elliott Wave Latest Weekly View:​

It placed $3.52 low as (II) on 1/20/2016. Above there, it placed ((1)) at $17.06 high & ((2)) at $4.82 low as an expanded flat correction. Later, it started third wave extended sequence, which ended as ((3)) at $46.10 high. It favored ended ((4)) at $30.02 low as 0.382 Fibonacci retracement. Finally, it ended ((5)) at $51.99 high on 3/25/2022. Below there, it ended II at $24.80 low as II in zigzag sequence between extreme areas before turning higher. It placed ((A)) at $33.43 low, ((B)) at $43.62 high & ((C)) at $24.80 low.

FCX - Elliott wave Latest Daily View:​

Above II low, it favors higher in III, which will confirm above $51.99 high. It placed (1) of ((1)) at $33.89 high & (2) at $26.03 low. It confirms higher high above (1), calling for upside in (3). It placed 1 of (3) at $46.73 high & proposed ended 2 at $39.01 low. Above there, it favors higher in 3 of (3), which confirms above 1 high as aggressive view. Alternatively, it may ended 4 of (1) of ((1)) at $39.01 low & favors higher in 5 of (1), which confirms above 3 high of $46.73. In either the case, it favors short term upside to continue. It should be remains supported in 3, 7 or 11 swings sequence at extreme areas, while dips remain above II low.

FCX - Alternate Elliott Wave Daily View:​

Source: https://elliottwave-forecast.com/stock-market/fcx-favors-upside-remain-supported/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
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84
www.elliottwave-forecast.com
Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of American Airlines Group ( $AAL ) stock. As our members know, the stock is trading within the cycle from the 11.63 low. We have been calling for the rally in the stock after 3 waves pull back. Our team recommended members to avoid selling AAL stock, while keep favoring the long side. In the further text we are going to explain the Elliott Wave Forecast.

American Airlines ( AAL ) Elliott Wave 4 Hour Chart 2.19.2023​

Current view suggests the stock is doing correction of the cycle from the 12.11 low. At the moment structure of the pull back looks incomplete, consequently we were calling for another leg down toward 15.52-14.33 area. We don't recommend selling it and prefer the long side. The stock is expected to find buyers in 3,7,11 swings. We expect to see at least 3 waves bounce from the blue box area or further rally toward new highs ideally.

AAL

American Airlines ( AAL ) Elliott Wave 4 Hour Chart 2.19.2023​

The stock made decline toward blue box zone. Pull back reached our target zone at 15.52-14.33. AAL found buyers and we are getting good reaction from there. Rally made enough separation from the lows. Wave ((ii)) looks completed at 15.38 low . As far as the price holds above that low, the stock can be trading higher in ((iii)) toward new highs.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

AAL

Source: https://elliottwave-forecast.com/stock-market/american-airlines-aal-buyers-blue-box/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
In our last blog from December 2022, we wrote that Platinum is ready to rally in 2023 after a 3 waves pullback. Fast forward 3 months later, the pullback has likely completed. The metal can start to resume higher in months to come. Below we will look at the technical outlook using Elliott Wave.

Platinum Monthly Elliott Wave Chart​



Monthly Elliott Wave Chart of Platinum above suggests that the metal did an all-time correction to cycle from January 1992. The correction nded a major low at 562 in 2020 where we labelled as wave ((II)). Wave ((III)) higher is currently in progress with subdivision as an impulse structure. Up from wave ((II)), wave (I) ended at 1348.2 and pullback in wave (II) ended at 796.8. Expect Platinum to extend higher as long as it stays above wave (II) low at 796.8.

Platinum Daily Elliott Wave Chart​

Platinum Elliott Wave Chart

Daily Chart of Platinum above suggests that the metal ended correction to cycle from 3.11.2020 low at 796.8 on September 1. We labelled this low as wave (II). Up from there, wave (1) ended at 943.5 and pullback in wave (2) ended at 833.7. Wave (3) ended at 1074.1 and wave (4) ended at 1006.3. Final leg higher wave (5) ended at 1117 which completed wave ((1)). Pullback in wave ((2)) has likely completed at 903.9 even though the metal still needs to break above the previous wave ((1)) high at 1117 to confirm this view and rules out a double correction. Near term, expect the metal to continue the rally higher as long as dips stay above 1117 in the first degree.

Source: https://elliottwave-forecast.com/commodities/platinum-pl-ended-correction-resumes-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Hello Traders, in this article we will analyze our forecast of the Nasdaq Futures in the short term cycle. Since the short term peak of NQ_F from 02.02.2023 to end wave 1 we have been expecting a pullback within wave 2 to take place. Here at Elliott Wave Forecast we have in place a system that allows us to measure an area in which we can expect a react to take place. We call it equal legs area or blue box area as you might have seen within our charts. These areas provide us with at least an 85% chance of a minimum of 3 waves bounce or reaction to take place. We can use these areas to enter in the market with a defined entry, Stop Loss and exit strategy.

We teach how to use our system within our member's area and live trading room. Once a member or in trial you will be able to gather more of that information under your disposal. Nevertheless, let's have a look now on the 1 hour chart of Nasdaq futures as provided to members from 02.27.2023. We have been within the equal legs area within a swing lower missing to end the cycle.

NQ_F 1 Hour New York update 02.27.2023​

NQ_F Short-Term Elliott Wave Analysis 02.27.2023
As we can see the market has bounced within wave (iv) of ((c)) and we have been forecasting one more leg lower within wave (v) of ((c)) to end wave 2 within equal legs area of 12089.68 - 11650.73 to end wave 2. Fast forwards towards the latest update now from 03.05.2023 weekend update we will see that the market has already reacted higher and what we expect next.

NQ_F 1 Hour Weekend update 03.05.2023​

NQ_F Short-Term Elliott Wave Analysis 03.05.2023
A very clear reaction higher started taking place from 03.02.2023 at the price of 11832.50. Reaction higher as an impulse within wave iii of (i) expecting a (iv) and a (v) to end wave (i). Afterwards a wave (ii) pullback is expected to take place before it can trade higher within wave (iii).

Source: https://elliottwave-forecast.com/stock-market/nq_f-reaction-higher-from-equal-legs-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,426
9
84
www.elliottwave-forecast.com
Good Day Traders and Investors. In this technical blog, we are going to take a look at the Elliott Wave path in General Motors ($GM).

The General Motors Company ($GM) is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. General Motors operates manufacturing plants in eight countries. Its four core automobile brands are Chevrolet, Buick, GMC, and Cadillac. In January 2021, GM announced plans to end production and sales of vehicles using internal combustion engines, including hybrid and plug-in hybrids by 2035, as part of its plan to achieve carbon neutrality by 2040. GM offers more flexible-fuel vehicles, which can operate on either E85 ethanol fuel or gasoline, or any blend of both, than any other automaker.

$GM Weekly Elliott Wave Analysis March 5th 2023:​



The Weekly Chart above shows the cycle from March 2020 low unfold in a 5 wave impulsive structure that ended at red I on June 2021 at $64.30. The stock then started a pullback to correct the cycle against March 2020 low in an expanded flat structure. This is one of the trickiest structures that the market can take to trap buyers and sellers. If unfamiliar with the flat structure, you can watch this video or read about it on our website. The ((C)) leg of the flat extended past the 1.618% which is normal as sometimes they can extend to 2% and 2.618%. Buyers appeared on July 2022 at $30.33 and a bounce took place. The low on July 2022 came with divergence in the D and W timeframes further supporting the idea of the flat.

We have a bullish sequence against March 2020 lows. So as long as the price remains above the primary low at $14.32, $GM is expected to remain supported. The secondary low comes at $30.33. As long as that pivot is holding in our system, Pullbacks are expected to find buyers in 3, 7 or 11 swings. In the near term, $GM can be nesting and once ready, it's expected to turn higher.

Source: https://elliottwave-forecast.com/video-blog/can-low-general-motors-gm-place/