Elbit Systems Ltd., (ESLT:NASDAQ) Elliott Wave Technical Analysis October 4 2022

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Elbit Systems Ltd., Elliott Wave Technical Analysis

Elbit Systems Ltd., (ESLT:NASDAQ): Daily Chart, October 4 2022, 

ESLT Stock Market Analysis:Looking for further downside as we can see what appears to be aleading diagonal in wave {i}

ESLT Elliott Wave count: {iii} of C.

ESLT Technical Indicators:All indicators are signaling bearish momentum with the 20 and 200EMAs trying to cross.

ESLT Trading Strategy: Looking to short on wave (iv) and {iv}.

TradingLounge Analyst: Alessio Barretta

 

 

 

 

Elbit Systems Ltd., ESLT: 4-hour Chart, October 4 2022

Elbit Systems Ltd., Elliott Wave Technical Analysis

ESLT Stock Market Analysis: Looking for further downside as the whole move down appears tobe incomplete.

ESLT Elliott Wave count: (iv) of {iii}.

ESLT Technical Indicators:All indicator are bearish with the 20 EMA(red line) potentially actingas resistance.

ESLT Trading Strategy: Looking to short even in this wave (iv) with a stop below the low ofwave (ii).