Elliott Wave Forecast

Login
Start 14-Day Trial

Rigetti Computing RGTI Hit Target, What is Next?

By

RGTI has risen rapidly in value in recent days attracting the attention of investors. Here we have the 15-minute chart. Applying the Elliott Waves principle, the stock should find support in 5.89 – 7.07 area to complete a wave 4. This would generate a new rally on wave 5 that could reach around 8.94 – 10.25 or extend higher.

RGTI 15 Min Chart 12.11.2024

RGTI 15 Min Chart 12.11.2024

In any case, as long as the market respects the 5.89 – 7.07 area, RGTI must continue with the upward movement and break above wave 3 to reach at least 8.94 – 10.25. If the market closes below 5.89, it would open the possibility that the value of the stock will drop to 4.00 before looking for another move higher.

RGTI 5 Min Chart 12.11.2024 (Market Closed)

RGTI 5 Min Chart 12.11.2024 (Market Closed)

RGTI found support at 5.78 low and rallied. From here, we are looking to build an impulse structure as wave 5. Wave ((i)) could be completed already and while the pullback as wave ((ii)) is above 5.78 low, RGTI should continue higher. The target for this wave 5 comes in 9.11 -10.14 if there is not more extension in the rally.

RGTI 30 Min Chart 12.20.2024 

We can see in the chart how was the formation process of the impulse as wave 5. Wave ((ii)) did an expanded flat correction that was very deep, almost breaking the invalidation price. In the rally, we see 5 waves reaching the expected zone of 9.11 – 10.14 completing wave ((iii)). This should have given us a clue that the market still needed one more high to finish the wave 5 impulse. And so it was! After the correction of wave ((iv)), Rigetti built an extended wave ((v)) to finish wave 5 at 12.75 high. The truth is that I would not have considered an extended wave ((v)), I would have considered a value of 11.05 to complete wave ((v)).

The rally also completed wave (3) and the market reacted downwards returning to the support zone of 5.78 – 7.07 finishing wave (4). As long as the market does not close below this area, RGTI should continue to rise in the short term. With a close below this area, we must reanalyze the market structure. For now, we should focus on looking for more bullish movement that reaches the 14.34 – 16.85 area, if there are no further extensions, to finish wave (5).

Elliott Wave Forecast  

www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.

14 day Trial costs $9.99 only. Cancel anytime at support@elliottwave-forecast.com

IONQ Soon Should Be Entering Into Wave IV pullback

By

IONQ, Inc. develops and manufactures quantum computers. The firm specializes in quantum computing and quantum information processing. The company was founded by Christopher Monroe and Jung Sang Kim in 2015 and is headquartered in College Park, MD. In this blog we are going to take a look at the technical analysis for IONQ ticker symbol: $IONQ. In which, we will look at the weekly chart showing two channels to the upside from all time lows. Supporting a possible nest structure in the making favoring more upside.

In which the rally to $35.90 high ended wave ((I)) and down from there made a pullback lower. The internals of that pullback unfolded as a double three structure where wave (w) ended at $9.16 low. Then a bounce to $17.66 high ended wave (x) bounce. And wave (y) ended at $3.03 low, thus completed wave ((II)) pullback. Up from there, the stock is rallying higher in an impulse sequence where wave I ended at $21.60 high and wave II pullback ended at $6.22 low. Above from there, the stock is taking extension higher in wave III already and expected to reach $43.31- $54.79 200%-261.8% Fibonacci extension higher. Suggesting that bulls needs to be careful at this stage of the market because soon IONQ should be entering into wave IV pullback. We don’t recommend selling it and next pullback should offer buying opportunity later on in 3, 7 or 11 swings.

IONQ Elliott Wave Weekly Analysis From 12.17.2024

IONQ Soon Should Be Entering Into Wave IV pullback

If you are looking for real-time analysis in Stocks & ETFs then join us with a 14-Day Trial for the latest updates & price action.

Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.

Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial.

DKNG Looking To Resume Higher After Completing The Pullback

By

The Draft Kings, Inc. ticker symbol: DKNG is a digital sports entertainment and gaming company engaged in providing online sports betting. Online casinos, daily fantasy sports product offerings, Draft Kings Marketplace. Retail sports betting, media and other gaming product offerings. consumption. It operates through the following segments: Business-to-Consumer (B2C) and Business-to-Business (B2B). The business-to-consumer segment includes sports betting, iGaming and DFS product offerings, as well as media and other consumer product offerings. The Business-to-Business segment includes the design and development of gaming software. The company was founded by Jason D. Robins, Matthew Kalish, and Paul Liberman on December 31, 2011 and is headquartered in Boston, MA.

In this blog, we will look at the technical analysis on DKNG. In which, the super cycle degree wave (I) ended at $74.38 high and made a 3 wave pullback against all time lows within wave (II). The internals of that pullback unfolded as zigzag correction where wave cycle degree wave a ended at $39.93 low. Wave b bounce ended at $64.58 high and wave c ended at $9.78 low. Thus completed wave (II) pullback. Up from there, the stock made a 5 waves rally & ended  cycle degree wave I at $49.57 high. Down from there, the stock made a 7 swings lower pullback and completed wave II pullback at $28.69 low. Near-term, as far as dips remain above $28.69 low and more importantly above $9.78 low expect stock to resume the upside.

DKNG Weekly Elliott Wave Analysis

DKNG Looking To Resume Higher After Completing The Pullback

If you are looking for real-time analysis in Stocks & ETFs then join us with a 14-Day Trial for the latest updates & price action.

Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.

Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial.

Better Restaurants with Toast, Inc (TOST) Support

By

Toast, Inc. (TOST) operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale. In addition, the company offers payroll and team management.  Further, it offers reporting and analytics, Toast shop, and Toast partner connect and application programming interfaces. The company was formerly known as Opti Systems, Inc. and changed its name to Toast, Inc. in May 2012. Toast, Inc. was incorporated in 2011 and is headquartered in Boston, Massachusetts.

TOST May 2024 Weekly Chart 

TOST May 2024 Weekly Chart 

TOST completed a grand super cycle in 2012 reaching a share price of $69.93. We called this high wave ((I)). From here, the stock started to plummet and it reached a value of $11.91 in less than a year. We labeled this low as wave ((II)). Then the price started to move sideways fluctuating between $12 and $27 dollars. For this reason, we started to label nests looking for the stock to recover. The first group ended wave (I) at $26.04 high. The corrective wave (II) drew an expanded flat structure that ended at $13.27 low and then the market rally. The next bullish momentum reached its maximum at $27.90 and we labeled it as wave I. Therefore, we expected a correction as wave II before continuing a new rally again.

TOST November 2024 Weekly Chart

TOST November 2024 Weekly Chart

Currently weekly chart, we can see the correction as wave II. It ended at $21.32 low in June and continued moving sideways. We were waiting to break above wave I high to confirm that wave II has completed. In September, the market breaks above $27.90 and the bullish market was confirmed. TOST created a separation from the lows after US elections, suggesting a wave III higher. This wave III looks incomplete and we should see higher prices until the structure is ended and start a wave IV correction. The weekly chart is valid as price action stays above $11.91 low.

TOST November 2024 16H Chart

TOST November 2024 16H Chart

To get a closer look at what is happening in TOST, we are showing the 16-hour chart. We are not using the daily chart because it did not show the retracement of wave (4). We can clearly see the structure of wave III. Wave ((1)) of III ended at $27.95 high. Then, a correction finished at $21.76 low, close to breaking the low of $21.32, and we marked as wave ((2)). The wave ((3)) of III is still developing we expect to reach $43.00 – $45.00 area before starting a wave ((4)) pullback. The stock should continue moving higher to sideways until wave III is completed.

Elliott Wave Forecast  

www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.

14 Days Trial for $9.99 only. Cancel anytime at support@elliottwave-forecast.com

QQQ Found Intraday Buyers Again at the Blue Box Area

By

Hello fellow traders. In this technical article we’re going to take a quick look at the weekly Elliott Wave charts of QQQ Invesco NASDAQ ETF, published in members area of the website. As many of our members are aware, the ETF is forming impulsive 5 waves rally in the cycle from the 420 low and it has given us good buying opportunities recently.  QQQ made another pull back that reached extreme zone from the peak completed a correction at the Equal Legs (Blue Box Area). In the following sections, we’ll take a look into the Elliott Wave pattern and our forecast.

QQQ H1 Update 11.01.2024

ETF  is  giving us correction that is unfolding as 3 waves pattern , labeled as (((a))((b))((c)) black. The pullback has already reached the extreme zone (Blue Box) . However we expect to see another marginal push down in near term. At this stage, we advise against selling the ETF and expect buyers to appear at the marked Blue Box area. QQQ could either see a rally to new highs or a corrective bounce in at least three waves.

If you want to learn more about Elliott Wave Patterns, we invite you to explore our Free Elliott Wave Educational Web Page.

QQQ

QQQ H1 Update 11.03.2024

ETF responded exactly as anticipated at the Blue Box Area. We got another marginal low and buyers appeared. QQQ made decent bounce from the buyers zone – Blue Box area. Bounce has reached 50 fibs against the connector’s peak ((b)) high, so any longs from there should be already risk free.

Keep in mind not every chart is trading recommendation. For the latest updates, refer to the most recent charts available in our membership area.  We focus on trading instruments with incomplete bullish or bearish swing sequences.  The Live Trading Room highlights the best opportunities in real-time.

Elliott Wave Forecast

Thank you for exploring our QQQ Elliott Wave Forecast with us. While we analyze 78 different instruments, it’s important to understand that not every chart is a trading recommendation. Therefore, for our official trading recommendations, we invite you to join us in our Live Trading Room. There, we provide actionable insights in real-time. If you’re not yet a member, you can take advantage of our 14-Day Trial to discover new trading opportunities.

Over time, we have refined a reputable trading strategy that accurately defines entry points, stop losses, and take profit levels. Consequently, by joining us, you will have the opportunity to learn from market experts and improve your trading skills.

Join us today !

📈 Elevate your trading with Elliott Wave Forecast!

🔍 Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.

📊 Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.

💰 For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.

👉 Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!

Back

 

NASDAQ Futures (NQ_F) Forecasting the Rally From the Equal Legs Zone

By

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of  NASDAQ Futures (NQ_F) published in members area of the website.  Our members know NQ_F is showing impulsive bullish sequences and we are favoring the long side. In this discussion, we’ll break down the Elliott Wave pattern and forecast.

NASDAQ  Elliott Wave 1  Hour  Chart 10.23.2024

NASDAQ is giving us wave ((ii)) black correction. The futures has reached extreme zone from the  peak at 20129- 19837 area.  NQ_F shows clear 3 waves from the high, suggesting pull back could be ending any moment. Consequently , we expect rally in wave ((iii)) to happen any moment. We recommend members to avoid selling the futures and keep favoring the long side.  As the main trend is bullish we expect to see rally toward new highs ideally or 3 waves bounce from the equal legs alternatively.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Nasdaq

NASDAQ  Elliott Wave 1  Hour  Chart 10.23.2024

NASDAQ responded exactly as anticipated at the equal legs. The futures found buyers and made a substantial rally from our recommended buying zone.  Eventually we got break of ((i)) black peak , confirming next leg up is in progress. The futures should ideally keep finding buyers in 3,7,11 swings sequences against the 20077.5 pivot.

Keep in mind that 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

Nasdaq

Join us today !

📈 Elevate your trading with Elliott Wave Forecast!

🔍 Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.

📊 Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.

💰 For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.

👉 Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!