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Monster Beverage Corp.(MNST:NASDAQ) Elliott Wave Technical Analysis 18 July 23


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Monster Beverage Corp., Elliott Wave Technical Analysis
Monster Beverage Corp., (MNST:NASDAQ): Daily Chart, 18 July 23
MNST Stock Market Analysis: I reviewed the count as it started to look odd despite not having broken any rule. At this point it looks like we are still within minor wave 3 as what seems to be wave {iv} looks like a corrective move.  
MNST Elliott Wave Count: Wave {v} of 3.
MNST Technical Indicators: Above all averages.
MNST Trading Strategy: Looking for longs into wave {v}.
TradingLounge Analyst: Alessio Barretta
 
MNST_7_18.png.269cdf102157d1d2f8eefc14e6357e18.png
 
 
 
Monster Beverage Corp., MNST: 4-hour Chart, 18 July 23
Monster Beverage Corp., Elliott Wave Technical Analysis
MNST Stock Market Analysis: I wanted to highlight all the confluence we have. There’s equality of (c) vs. (a), the 38.2% retracement of wave {iv}, and we found support on the Elliott channel. As wave {iii} was just a few dollars longer than {i}, we can expect {v} to be extended and therefore reach target at 73$
MNST Elliott Wave count:  Wave (i) of {v}.
MNST Technical Indicators: Above all averages
MNST Trading Strategy: Looking for longs, ideally we first break wave (b) and then look for a three wave reaction to place longs.
MNST_4H.png.6e876b3d9c721c50863b124943556fe3.png
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