Monster Beverage Corp.(MNST:NASDAQ) Elliott Wave Technical Analysis 21 July 23

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Monster Beverage Corp., Elliott Wave Technical Analysis

Monster Beverage Corp., (MNST:NASDAQ): Daily Chart, 21 July 23

MNST Stock Market Analysis: We have been moving as expected from the last upside. Looking for a bottom in wave {iv} as we seem to have completed a three wave move, therefore corrective in nature. Looking for further upside  into wave {v} to expected to be extended.  

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
 

 

 

 

Monster Beverage Corp., MNST: 4-hour Chart, 21 July 23

Monster Beverage Corp., Elliott Wave Technical Analysis
MNST Stock Market Analysis: Looking for upside as we already reacted off the 38.2% retracement of wave {iv}. We seem to be finding support on the 23.6% as we are looking for upside into wave iii.  

MNST Elliott Wave count:  Wave iii of (iv).

MNST Technical Indicators: 20EMA as support.

MNST Trading Strategy: Looking for longs into wave iii once we manage to break the top of wave i.