JP Morgan & Chase Co. (JPM) Stocks Elliott Wave Technical Analysis
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By tradinglounge · Posted
Coffee Elliott Wave Analysis Coffee has recovered from the late November sharp drop. The next breakout will see it trading at the highest prices since the 1970s. For many decades, prices have been in a $300-wide range. Is it about to break the range and reach for new highs? Daily Chart Analysis On the daily chart, the price is evolving into a double zigzag structure from the January 2023 low of $141.85. Wave ((W)) in April 2024 followed by a dip for wave ((X)) which ended in May 2024 where wave ((Y)) started. It now appears the price is upside along the path of wave (Y) of ((Y)). This shows room for more upside for buyers before a significant pullback follows. H4 Chart Analysis On the h4 chart, the price appears to have completed wave A of (Y) and perhaps wave B in early December if the current rally progresses above wave A high. Thus, the commodity will most likely advance toward $385 in the coming days. With this, a new record high should happen. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
BAJAJ FINSERVE – BAJAJFINSV (1D Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree Grey) Mode: Corrective Structure: Impulse within larger degree correction. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete below 1600. If correct, Minor Wave 2 rally should unfold towards 1800 levels before bears are back in control. Invalidation point: 2040 BAJAJ FINSERVE Daily Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ FINSERVE daily chart is indicating a potential trend reversal against 2040 high, which was registered in September 2024. The larger degree uptrend looks complete as bears remain poised to complete the first impulse wave lower around 1400-1550 zone. Earlier, the stock had unfolded a larger degree triangle consolidation between July 2022 and June 2024, terminating Intermediate Wave (4) Orange around 1420 mark. Bulls managed to terminate Intermediate Wave (5) as a thrust impulse wave before prices reversed sharply lower. If the above holds well, price action would slip through the 1400 mark in the near term, before producing a counter trend rally. BAJAJ FINSERVE – BAJAJFINSV (4H Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree Grey) Mode: Corrective Structure: Impulse within larger degree correction. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete below 1600. If correct, Minor Wave 2 rally should unfold towards 1800 levels before bears are back in control. Alternatively, Minor Wave 1 could complete around 1400 mark before the corrective rally begins. Invalidation point: 2040 BAJAJ FINSERVE 4H Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ FINSERVE 4H chart is highlighting the sub waves after Intermediate Wave (4) Orange terminated as a triangle around 1420 mark in June 2024. Intermediate Wave (5) unfolded as an impulse, terminating around 2035-40 mark. Furthermore, the stock has turned lower since then as a potential impulse lower could be either complete around 1565 mark or could extend through 1400 zone. Please note 1400 zone is close to the triangle termination of previous Wave (4) as well. Once Minor Wave 1 lower is complete, we can expect a counter trend rally to materialize. Conclusion: BAJAJ FINSERVE has potentially turned lower against 2040 high and it has potentially completed its first impulse drop around 1550 mark. If correct, a counter trend rally should be underway soon to unfold Minor Wave 2 Grey. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
META Elliott Wave Analysis Trading Lounge Meta Platforms Inc., (META) Daily Chart META Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 5. DIRECTION: Upside in 5 of (5). DETAILS: Looking for upside into at least MediumLevel 650$. As wave 3 was as long as wave 1 we could also expect an extended wave 5 of (5) taking us towards the next TradingLevel at 800$. Meta Platforms Inc., (META) 1H Chart META Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {iii} of 5. DIRECTION: Upside into wave 5. DETAILS: Looking for upside into wave 5 as we seem to have completed a five wave move within Minute wave {iii}. This Elliott Wave analysis for Meta Platforms Inc., (META) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements. * META Elliott Wave Technical Analysis – Daily Chart* Meta is advancing in Minor wave 5 of Primary wave (5), with an upside target toward at least MediumLevel 650$. Since wave 3 was approximately the same length as wave 1, there is the potential for an extended wave 5, which could push the stock towards TradingLevel 800$. This scenario suggests continued strength and bullish momentum for META, with the possibility of reaching new highs if wave 5 extends significantly. * META Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, META appears to have completed the five-wave move within Minute wave {iii} of wave 5. The next expected move is a brief consolidation or pullback in wave {iv}, followed by an upside continuation into wave {v}, which will complete the overall structure of wave 5. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!
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