Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Alphabet Inc. ($GOOGL). The rally from 1.08.2024 low at $135.09 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

Zigzag (ABC) Corrective Structure

$GOOGL

$GOOGL 1H Elliott Wave Chart 1.17.2024:

$GOOGLHere is the 1H Elliott Wave count from 1.17.2024. We expected the pullback to find buyers against 1.08.2024 low at red 2 in a 3 swing structure (ABC).

$GOOGL 1H Elliott Wave Chart 1.21.2024:

$GOOGLHere is the 1H update from 1.21.2024 showing the bounce taking place as expected. The stock reacted higher after doing a Zigzag correction allowing longs to get a risk free position.

 

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