Nasdaq Archives - Page 6 of 13 - Elliott Wave Forecast

TSLA Managed To Reach Another Blue Box Buying Area

February 17, 2025 By Hassan Sheikh

In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Tesla ticker symbol: TSLA. We presented to members at the elliottwave-forecast. In which, the rally from 22 April 2024 low ended in an impulse structure. But showing a higher high sequence within the cycle from January 2023 low supports more upside. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

TSLA 4-Hour Elliott Wave Analysis: February 9, 2025

TSLA 4-hour chart showing completed impulse wave and double three correction

Here’s the 4-hour Elliott wave chart from the 2.09.2025 weekend update. In which, the cycle from the 4.22.2024 low ended in wave ((3)) at $488.54 high. Down from there, the stock made a pullback in wave ((4)) to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave (W) ended at $373.04 low. Wave (X) bounce ended at $439.74 high and wave (Y) managed to reach the blue box area at $323.98- $252.46. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

TSLA 4-Hour Elliott Wave Update: February 16, 2025

Latest TSLA chart showing reaction higher from blue box support

This is the latest 4-hour Elliott wave Chart from the 2.16.2025 weekend update. In which the stock is showing a reaction higher taking place, right after ending the double correction within the blue box area. However the bounce needs to react higher minimum towards $380.19 level to allow longs to get into a risk-free position. Later on, it would need to see a break above $488.54 high to confirm the next extension higher & avoid deeper pullback.

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Palantir (PLTR) Stocks: Poised for Continued Growth Amidst Strong Earnings and AI Momentum

February 10, 2025 By EWFLuis

Palantir Technologies (PLTR), Inc. is a holding company, which engages in the development of data integration and software solutions. It operates through the Commercial and Government segments. The firm offers automotive, financial compliance, legal intelligence, mergers and acquisitions solutions.

Palantir (PLTR) Weekly Technical Analysis – September 2024

Palantir (PLTR) Weekly Chart – Elliott Wave Forecast September 2024

You can check above the weekly count of PLTR from September 2024. The market conditions suggested PLTR was in wave I; therefore, we changed the wave I for wave ((1)). Wave ((1)) ended at $29.83 in $29.23 – $32.00 area where we were expecting to hit a target. Then, the price pulled back to 21.23 where we called wave ((2)) completed, resuming with a strong rally breaking above wave ((1)), and supporting that wave ((3)) was underway. We were looking to continue to the upside until completing wave ((3)). We should look for buying dips as price remains above wave ((2)) low. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

Palantir (PLTR) Daily Chart Update – February 2025

Palantir (PLTR) Daily Chart – Elliott Wave Forecast February 2025

After 5 months, PLTR stock price rised by more than 200%. For this reason, we have retook to the original idea that wave I of (III) had already ended instead of calling it wave ((1)). So, wave I ended at 29.83 high and wave II at 21.23 low. The rally continued as we expected, and we think wave III finished at 84.80 high. Wave IV completed at 63.40 low and the market resumed the bullish trend to build wave V with the last earnings announcement. Currently, the move is showing 3 waves up and we are waiting for wave ((4)) of V before it continues higher. As long as we don’t see that wave ((4)), the price can continue to rise without any problem, but if you see the correction it is an opportunity to buy to continue the trend in wave ((5)) of V and wave (III). At the moment, we are managing a target price of $127 to end the cycle. However, we cannot rule out maintaining the bullish movement, before entering wave (IV). Let see what the market give us. Trade Smart!

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NASDAQ (NQ): Two Scenarios That Show Perfect Setup For Traders

January 21, 2025 By EWFSanmi

NASDAQ E-Mini Futures (NQ) appears to be extending the bullish sequence from October 2022. Will the sequence finish soon and lead to a big sell-off across the US indices? While the sequence persists, where should traders eye the next opportunity?

The NQ chart is very clear. After the markets recovered from Covid in March/April 2020, a massive bullish cycle followed. This rally continued until November 2021 and was identified as wave (I). From November 2021, a sell-off began to correct the Covid recovery cycle. The sell-off ended in November 2022 and was identified as wave (II). Wave (III) then started in October 2022 and has continued to rise since. The bullish cycle from October 2022 has gained over 105% from its low and lasted nearly 28 months. Further analysis shows this rally as wave I of (III). Therefore, wave (III) still has a long way to go.

When such a bullish sequence emerges, we prefer buying pullbacks in 3, 7, or 11 swings from the blue box. These blue boxes are shown on the chart for Elliottwave-Forecast members. Within the bullish sequence from October 2022, there have been multiple pullbacks. Members have profited from these. The most recent pullback occurred on August 5, 2024. As shown on the 8.4.2024 chart below, we bought at the extreme of this pullback.

Price reached the blue box to conclude a 7-swing structure and then rallied from there. The 8.27.2024 chart below shows a later update we shared with members as we continue to provide update from this extreme area.

From the blue box, NQ gained about 29% until the recent pullback from December 2024 started. Again, pullbacks within a bullish sequence should be a perfect opportunity for buyers to go again. What are the likely scenarios buyers should look forward to, for the next perfect blue box opportunity? This post will provide two best buying scenarios for traders.

NQ Elliott Wave Analysis – 1st Scenario. 01.21.2025 Update

The NQ chart above shows that wave ((4)) of I ended on January 13, 2025, at 20,690. From this pullback low, wave ((5)) began to emerge. The price is now close to completing wave 1 of (1) of ((5)). A pullback for wave 2 should follow. The best entry was at the extreme of wave ((4)), but it was barely missed. The next opportunity will come after the price breaks above the December 2024 peak at 22,450 with wave 3. After this, buyers can wait for the next pullback. It could be for wave 4, wave ((ii)) of 3, or wave ((iv)) of 3 within the bullish sequence from January 13, 2025. This bullish setup depends on the price breaching the December 2024 high. But what if the price turns lower instead of breaking this high?

NQ Elliott Wave Analysis – 2nd Scenario. 01.21.2025 Update

If the price doesn’t breach 22,450 to confirm the first scenario, it could fall further for a deeper wave ((4)). As the chart above shows, wave ((4)) could develop into a larger 7-swing structure. Wave (W) ended on January 13, 2025, where the current bounce for wave (X) began. Wave (X) may extend to 22,044.07–22,250.96. If the price turns lower from this zone or below it, buyers can watch for the next extreme of wave ((4)) for a perfect long entry. However, if the bounce breaches 22,450, this scenario becomes invalid, and the first scenario becomes valid. In either case, we have prepared our members to act. The strategy is simple: just buy from the blue box! You can also learn to trade from our blue box for just $0.99 for the next 14 days. Try here

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SMH Semiconductor ETF Rally Continuation Should Be Around the Corner

January 16, 2025 By EWFLuis

The VanEck Semiconductor ETF (SMH) is an exchange-traded fund that tracks a market-cap weighted index composed of 25 of the largest U.S.-listed semiconductor companies. The top holdings of SMH include companies like NVIDIA, Taiwan Semiconductor Manufacturing, Broadcom Inc., Texas Instruments, QUALCOMM, ASML Holding N.V., Applied Materials, Inc., Lam Research Corporation, Micron Technology, Inc., and Advanced Micro Devices, Inc.

SMH 4 Hour Chart September 11th

Last September 11th, we talked about SMH. After completing wave (III), we had a deep pullback as a zig zag correction. Down from wave (III), wave “a”ended at 226.50 low and bounced as wave “b” ended at 251.00 high. Last push lower completed wave “c” and a wave (IV) at 197.50 low. Then, SMH started the uptrend again and wave (V). It built an impulse structure ending at 253.32 high as wave I. Pullback as wave II ended at 213.57 low. From here, we were expecting to continue the rally in wave III of (V). Ideally, the market should break 284.26 high as target to end wave (V). In case, if this rally would not break above wave (III), the next target to keep an eye comes around 269.50 level.

SMH Daily Chart January 16th

Currently in the daily timeframe, the semiconductors ETF has moved sideways between 230 – 260 dollars. The market rally as expected from 222.20 as the last chart, but it has not been strong enough to break the peak and even worse to reach 269.50 level. Therefore, we adjusted the chart calling the wave I as a leading diagonal ending at 262.26 high. The ranging since October 2024 until today should be the wave II correction. We are calling a running flat correction for this purpose. For us, the wave III has started and wave ((1)) of III ended at 257.20 high and now it is trading in wave ((2)) pullback. As price action remains above 240.62 low, we are expecting for more upside to break 283.07 high.

Besides, as we are calling a running flat correctionas wave II, we cannot rule an expanded flat correction as wave II. That means, if market breaks 240.62 low, SMH should continue lower to 235.29 – 228.61 area to finish wave II before resuming the rally. Let’s see how the market treats us. Trade Smart!

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Rigetti Computing RGTI Ended a Cycle Looking for Support

January 9, 2025 By EWFLuis

In the last two days, RGTI has had a strong fall, losing more than 50% of its value. The stock ended a cycle and began a correction. Now we are going to see what could happen to the Quantum technology company, from where it can rebound and the pivots that will tell us if the market will return to November 2024 values.

RGTI 30-Minute Chart Analysis: December 26, 2024

RGTI 30-minute chart showing wave structure before recent decline

This is the last chart from December 26th where we hit target and wave (5) looked like was going to extend higher. We can see how wave 1 ended at 12.79 high and the market did a small pullback as wave 2 to 10.20 low. The wave 3 started hitting our target area of 14.37 – 16.89 calling for more upside. Therefore, we expected that the market should continue moving sideway to higher until it ends wave 3. Then, wave 4 correction should retest around the low of wave ((iv)) and finally, a last push higher should end wave 5 of (5) before seeing a retracement in 3, 7 or 11 swings correction.

RGTI 60-Minute Chart Update: January 8, 2025

RGTI 60-minute chart showing completed ending diagonal pattern

This is the lastest chart of RGTI. We can see how wave 3 ended at 19.35 high and pullback as wave 4 at 14.40 low. The stock continued higher developing wave 5 as an ending diagonal structure. After 5 swings the structure completed at 21.42 high. Also ended wave (5) in higher degree and possible wave ((3)) in higher degree.

In a post of Jan 2nd by @ElliottForecast, we suggested the area where we should see a reaction lower. Here is the post: $RGTI has rallied higher and it should continue to 20.50 – 22.33 area. If we see a reaction lower from this zone, a cycle could have ended and we will expect 3, 7 or 11 swings correction before resuming to the upside. If there is not reaction, it should continue extending higher.”

Once an ending diagonal is completed, it is a big warning because a strong pullback is possible. We can see the stock has broken down losing more than 50% of its value. Looks like is building a zig zag correction at the moment, but it is too early to tell certainly. If this move is a wave ((4)), we have a huge support. We consider a support area of 8.37 – 5.79. We should see a bounce in this area to continue the rally and break above 21.42 high. However, if the stock closed a day market below this area, it is dangerous because it could return to levels of November 2024. Let see what the structures give us next days. Trade safe!

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Nasdaq ETF (QQQ): Elliott Wave Forecasting the Future Path

January 2, 2025 By EWF Vlada

Hello traders and investors! In this technical article, we’re going to take a quick look at the Elliott Wave charts of the Nasdaq ETF QQQ, published in the members area of the website. As our members know, QQQ is showing impulsive bullish sequences in the cycle from the August 420.16 low. As a result, we are favoring long side at this stage. However, we believe the H4 pullback is still incomplete and could provide another leg down. We will explain the reasons behind this Elliott Wave forecast and how to trade it further in this article.

QQQ H1 Update 12.24.2024

The ETF shows 5 waves down from the 539.15 peak, suggesting we have ended only a first leg of potential Zig Zag pattern. QQQ is currently doing 3 waves recovery against the 539.15 high, labeled as (B) blue. Structure of the bounce looks incomplete, suggesting another leg up ideally before turn lower takes place .

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QQQ H1 Update 12.31.2024

QQQ made the proposed leg up and completed a 3-wave recovery at the 531.3 high. We consider the (B) recovery complete there. As long as the price remains below that level, we expect further weakness in the (C) leg. We don’t recommend selling against the main bullish trend and will use the (C) leg as a new buying opportunity if the next extreme zone is reached.

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