The post Analog Devices Inc. (ADI) Elliott Wave technical analysis [Video] appeared on BitcoinEthereumNews.com.

Function: Trend. Mode: Impulsive. Structure: Motive. Position: Minor wave 3. Direction: Top in 3.   Details: Looking for continuation higher towards medium level at 250$. We have a nice alternation between a sideways wave {iv} and a sharp wave {ii}. ADI Elliott Wave technical analysis – Daily chart In our Elliott Wave analysis of Analog Devices Inc. (ADI), we observe an impulsive trend pattern characterized by a motive structure. ADI is currently positioned in Minor wave 3, indicating a continuation higher towards the medium level at $250. The wave structure shows a clear alternation between a sideways wave {iv} and a sharp wave {ii}, which is a typical feature in Elliott Wave theory, suggesting healthy trend progression. Traders should monitor for the top in Minor wave 3 and the potential transition into wave {v}, which could offer opportunities for profit-taking or strategic adjustments to long positions.   ADI Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Motive. Position: Wave {v}. Direction: Upside in wave {v}. Details: We seem to have completed the correction in wave {iv} with a clear three wave structure. Looking for continuation higher into equality of {v} vs. {i} at 254$. ADI Elliott Wave technical analysis – Four-hour chart On the 4-hour chart, ADI continues to follow an impulsive trend mode within a motive structure, specifically in wave {v}. The recent correction in wave {iv} appears to have completed with a clear three-wave structure, indicating a possible resumption of the uptrend. The target for wave {v} is set at the equality of {v} vs. {i} at $254. Traders should look for confirmation of this upward movement as the wave {v} progresses towards the target level, which may present opportunities for entering long positions or adding to existing ones. Welcome to our latest Elliott Wave analysis for Analog Devices Inc. (ADI) as of June 19, 2024. This analysis provides an in-depth look at ADI’s price movements…

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Filed under: News - @ June 19, 2024 10:18 am