Elliott Wave View: Alphabet (GOOGL) Resumes Higher in wave ((5))

Alphabet (GOOGL) has broken above June 24 high, suggesting that the next leg higher has started. The stock has ended the correction from June 11 high in wave ((4)) as a Flat Elliott Wave Structure.  Wave (A) ended at 1385.80 low, wave (B) ended at 1475.79 high, and wave (C) ended at 1351.65 low. This 3 waves move ended wave ((4)) pullback. From that low, the stock extended higher in wave 1, which ended at 1402 high. The pullback in wave 2 then ended at 1393.22 low.

Afterwards, the stock resumed higher in wave 3, where the subwave unfolded as a 5 waves Elliott Wave structure. Wave ((i)) ended at 1406.50 high, wave ((ii)) ended at 1395.64 low, wave ((iii)) ended at 1448.48 high, wave ((iv)) ended at 1441 low, and wave ((v)) ended at 1488.52 high. Wave 4 pullback is proposed complete at 1468.55 low. The stock can push for another high before ending 5 waves rally from June 29 low in wave (1).  A larger degree pullback in wave (2) should then follow before the rally resume again. As far as pivot at 1351.05 low stays intact, expect dips in 3, 7, or 11 swing to continue finding support.

Alphabet (GOOGL) 15 Minutes Elliott Wave Chart

Alphabet 7.2.2020 Post Market