Jump to content

Analog Devices Inc.(ADI:NASDAQ) Elliott Wave Technical Analysis December 9 2022


Recommended Posts

Analog Devices Inc., Elliott Wave Technical Analysis

Analog Devices Inc., (ADI:NASDAQ): Daily Chart, December 9 2022, 

ADI Stock Market Analysis: ADI has been moving as forecasted in the previous update. WE arestill looking for further upside into wave {v} to then complete potential wave 1.

ADI Elliott Wave Count: Wave {iv} of 1.

ADI Technical Indicators:Above all EMAs with some sign of bearish RSI divergence

ADI Trading Strategy:Looking for short term trades to the upside or else wait for a largerpullback in wave 2 to then look for longs.

TradingLounge Analyst: Alessio Barretta

 

ADI_12_9.png.3fe7063a3c453c40261ada9d1efe525b.png

 

 

Analog Devices Inc., ADI: 4-hour Chart, December 9 2022

Analog Devices Inc., Elliott Wave Technical Analysis

ADI Stock Market Analysis:It looks like we will either have a flat or a triangle in wave {iv} as it could already be completed. A break south of the red line would start to compromise the whole count. 

ADI Elliott Wave count: Wave (c) of {iv}.

ADI Technical Indicators: 20EMA acting as support.

ADI Trading Strategy:Looking for longs into wave {v}.

ADI_4H.png.839bd865318e3ea05a5365b2d5a051db.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      23,663
    • Total Posts
      97,138
    • Total Members
      44,214
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    EMR
    Joined 08/12/23 08:21
  • Posts

    • Non-farm payrolls in focus for Fed’s next move In the US, the focus is on non-farm payrolls for the month of November, due at 1.30pm (UK) today.    Angela Barnes | Financial presenter/producer, London | Publication date: Friday 08 December 2023 10:52 For a few weeks now, the market has been trying to figure out how soon the US Federal Reserve will start cutting interest rates. IGTV’s Angela Barnes has the latest. The US Federal Reserve's decision The big thing that traders are looking out for is the release of the non-farm payrolls report for November in the US. This report will give us a good idea of how many jobs were added or lost and could affect the US Federal Reserve's decision on interest rates. Right now, there's a tool called CME FedWatch that predicts a 90% chance of a rate cut by May 2024 and a 60% chance of a cut at the March meeting. So, if the report shows that not a lot of jobs were added, the chances of a rate cut happening sooner rather than later might go up. The JOLTs report There are a couple of other reports that are giving us some clues. One is the JOLTs report, which showed that job openings decreased a lot and reached the lowest level since March 2021. Another is the ADP survey, which found that private businesses hired 103,000 workers in November, which was less than expected. These reports are making traders pay more attention to the non-farm payrolls data.   People are really interested in the non-farm payrolls report, and you can see that because the price of the US dollar has gone up a little bit. The experts have different ideas about what the report will say. Some think around 100,000 to 275,000 jobs were added, but the average guess is around 180,000. This would be better than October, when 150,000 jobs were added. But keep in mind that around 30,000 workers had come back to work after being on strike. They think the unemployment rate will stay the same at 3.9%, which is the highest it's been since January 2022. And they predict that hourly earnings will have gone up about 0.3% from October and 4% compared to last year. Overall, this report is an important one for traders because it could affect interest rates. It's interesting to see the different forecasts and what they mean for the job market and the economy.       This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
    • There couldn't be a better time to share this remainder than now. While trying to stay steady and avoid pitfalls situations. Let us also be conscious of our asset safety cos security is paramount in the world of cryptocurrency trading. With exchanges like Bitget prioritizing advanced security measures to protect its users' assets and employing industry-leading encryption protocols, two-factor authentication, and cold storage for the majority of its funds, we can ensure that users can trade with peace of mind. In addition to complying with regulatory standards with a proven track record of securely handling users' fund
    • Now, while we're on the topic, I'm curious – what are the best ways to learn how to day trade? Share your insights! Let's create a knowledge pool to help each other navigate the trading waters. 
×
×
  • Create New...
us