Monster Beverage Corp.(MNST:NASDAQ) Elliott Wave Technical Analysis 8 August 23

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Monster Beverage Corp., Elliott Wave Technical Analysis

Monster Beverage Corp., (MNST:NASDAQ): Daily Chart 8 August 23

MNST Stock Market Analysis: I was tracking upside for Monster as the move off the wave {iii} top seemed to be corrective in nature. It looks like we could have had a complex correction into wave {iv} as we successfully found support of the base channel.  

MNST Elliott Wave Count: Wave {v} of 3.  

MNST Technical Indicators: Above averages.

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

TradingLounge Analyst: Alessio Barretta

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Monster Beverage Corp., MNST: 4-hour Chart 8 August 23

Monster Beverage Corp.,  Elliott Wave Technical Analysis
MNST Stock Market Analysis: Looking for upside into wave {v} with a bottom in place. As wave {iii} and {i} were almost equal in length we could expect an extended wave {v}, which could therefore help us reach wave 3 target.  

MNST Elliott Wave count:  Wave {v} of 3.  

MNST Technical Indicators: 200EMA as support.  

MNST Trading Strategy: Looking for longs on the way up into wave {v}.