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GOOGL Elliott Wave technical analysis
Mode: Impulsive.
Structure: Motive.
Position: Wave ii of (iii).
Direction: Upside into wave (iii).
This daily chart analysis reflects a bullish bias, indicating wave ii of (iii) is nearing completion with potential for acceleration into wave (iii). A nested structure from April lows supports continued upward action. An alternate scenario sees a completed flat correction forming wave {c} of B. Strong price momentum will confirm the bullish count.
Mode: Impulsive.
Structure: Motive.
Position: Wave ii of (iii).
Direction: Formation of wave iii.
Short-term structure shows wave ii potentially complete, with wave iii likely to extend higher. A confirmed breakout above Minor Group 2 will validate this view, indicating a fresh impulsive leg upward.
