Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

PNC Financial Services (NYSE: PNC) is down more than 20% in the recent 4 months. Investors are looking for clues into the current decline to prepare a plan for the next move. We’ll use the Elliott Wave Theory to define the technical structure and understand the potential path.

Since December 2024 peak, PNC is showing a clear 3 swings decline and we can define it as an Elliott Wave Zigzag structure. Wave ((A)) ended in 12.20.2024 at $185, wave ((B)) ended in 1/29/2025 at $205 and the wave ((C)) remains in progress. In other words, the current move to the downside is corrective and it's still expected to end wave (5) of ((C)) at the equal legs with the Blue Box area $170.68 - $149.25.

PNC 4 Hour Elliott Wave Chart​

The blue box in the above charts is a High-frequency area where the market is likely to end the current cycle and make a turn. Consequently, we expect PNC to react to the upside as buyers will be looking for the trend to resume or will be looking for a 3 waves bounce at least.

In conclusion, PNC is showing a corrective decline and we only recommend buying the pullback in 3 , 7 or 11 swings as we expect a reaction higher to take place in the second quarter of this year.

Source: https://elliottwave-forecast.com/stock-market/pnc-financial-services-upside/

 

[Elliottwave-Forecast]

Understanding Fortinet’s Long-Term Growth Potential Through Elliott Wave Analysis

Fortinet Inc. (FTNT) remains in a long-term bullish cycle, with Elliott Wave analysis signaling further upside. The stock recently completed a significant correction and appears ready for the next move higher.

Weekly Elliott Wave Analysis:​

The weekly chart of FTNT highlights a clear five-wave impulsive advance, which completed wave III at a peak in 2022. Afterward, the stock entered a complex corrective phase, labeled as wave IV. This correction found support near $54.54, aligning with key Fibonacci retracement levels. With this correction now over, FTNT has begun a new bullish cycle.

Short-term Elliott Wave Outlook:​

On the daily timeframe, FTNT has already completed an initial five-wave advance, marking wave ((1)) of a new uptrend. Currently, the stock is experiencing a wave ((2)) pullback, which is expected to be fail in 3, 7 or 11 swings above the low of wave IV in the near term. Once this phase concludes, another strong rally should follow. The projected target for wave ((3)) lies between $120 and $150, indicating substantial upside potential.

Right Side and Trading Strategy​

The "Right Side" tag confirms the primary trend is bullish. Traders should focus on buying opportunities rather than shorting. The bullish outlook stays valid as long as FTNT holds above $54.54.

The "Turning Up" tag indicates that the stock is resuming its uptrend. Traders can look for pullbacks as potential entry points while managing risk carefully.

Conclusion​

Fortinet Inc. remains structurally bullish, with wave ((3)) likely to accelerate higher. Investors should consider buying on pullbacks while watching the $54.54 support level. With a strong Elliott Wave setup, FTNT is well-positioned to reach new highs in the coming months.

Source: https://elliottwave-forecast.com/st...lliott-wave-forecast-bullish-trend-continues/

 

[Elliottwave-Forecast]

In recent years, the renmembi paused its attempt to strengthen against the USD. In February 2014, the renminbi found support at 6.0153 as wave ((III)). From there, it formed a perfect zig-zag corrective structure, reaching equal legs at the 7.1964 high in September 2019. Following these three swings, USDCNH was expected to continue its downtrend. However, the pair turned upward again, breaking above the 7.1964 high, which suggested that it was developing a double correction structure.

USDCNH October 2024 Weekly Chart​

In the previous chart, the first leg of wave "c" completed successfully. Starting from the 6.6883 wave "b" low, the pair climbed higher in 5 swings, forming an impulse that peaked at the 7.3679 high, labeled as wave ((1)). The wave ((2)) pullback then unfolded, following a zig-zag structure (A), (B), and (C), and ended precisely at the 6.9705 low within the expected range of 7.12 - 6.95.

After completing wave ((2)), the pair resumed its rally, building an impulse as wave "c" toward the target area of 7.4899 - 7.7679 This move aimed to finalize wave (y) and complete the double correction as wave ((IV)), allowing the renminbi to continue its downtrend in monthly timeframe.

USDCNH March 2025 Weekly Chart​

Currently, we can see the rally of wave (1) of ((3)) that concluded at the 7.3700 high. This movement has not broken into new highs which is crucial for sustaining bullish momentum. We have also witnessed a pullback that is likely wave (2) of ((3)). Despite the sharp depreciation of the dollar in recent weeks, the pair has not moved to the same magnitude as the dollar, which is a positive indicator for maintaining the bullish structure. As in previous months, we expect the upward trend to continue targeting to 7.4899 - 7.7679 area completing a double correction Elliott Wave pattern. At this level, we should see a bearish reactions in the USDCNH.

Source: https://elliottwave-forecast.com/forex/riding-usdcnh-dollar-strength-persist/

 

[Elliottwave-Forecast]

DexCom Inc., (DXCM) prominent player in the healthcare sector, specializes in continuous glucose monitoring systems, helping improve diabetes management. Listed on Nasdaq under the ticker "DXCM," the company operates on a global scale.

This stock reflects a notable trading pattern, with anticipated market movements providing insights for investors. From a technical perspective, DXCM has been navigating a double three correction pattern since its November 2021 peak.

DXCM - Elliott Wave Latest Weekly View: ​

The company's grand super cycle ((I)) reached its zenith at $164.86, marking a high from its all-time low. Following this, the stock has exhibited a corrective wave ((II)), forecasting a gradual decline against the March-2024 high. Within wave ((I)), various smaller waves, such as (w), (x), & (y), have contributed to its dynamic movement. The stock recently broke below the (w) low, suggesting continued weakness towards $44.11 or lower levels—a critical point for investors.

Elliott Wave pattern suggest short-term strategies, such as selling during rebounds in three, seven, or eleven swings, as long as the stock remains below February-2025 high of $93.25, once it breaks below $62.34 low. Alternatively, if the stock surpasses $93.25 while holding above July-2024 low, a potential double correction could manifest. For long-term investments, the next blue box area in wave y might offer opportunities when the stock approaches this zone in the weekly chart. Navigating DXCM’s technical patterns demands careful observation & a strategic approach for investors aiming to capitalize on potential market movements.

Source: https://elliottwave-forecast.com/stock-market/dxcm-forecasting-trends-key-levels-in-correction/

 

[Elliottwave-Forecast]

Hello everyone! In today’s article, we’ll examine the recent performance of SPDR Industrial ETF ($XLI) through the lens of Elliott Wave Theory. We’ll review how the decline from the November 27, 2024 high unfolded as a 7-swing correction and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.

7 Swing WXY correction​

$XLI 4H Elliott Wave Chart 3.12.2025:​

In the 4H Elliott Wave count from March 12, 2025, we saw that $XLI is completing a 7-swing correction beginning on November 27, 2024. We anticipated this pullback to unfold in 7 swings, likely finding buyers in the equal legs area between $128.66 and $125.53.
This setup aligns with a typical Elliott Wave correction pattern (WXY), where the market pauses briefly before resuming the main trend.

$XLI 4H Elliott Wave Chart 3.23.2025:​

The 4H update, from March 23, 2025, shows the reaction take place as predicted. After the decline from the recent peak, the ETF found support in the equal legs area, leading to a renewed rally. As a result, buyers were able to get risk-free at $135 which is the 50% retracement from the wave ((X)) connector.

What’s Next for $XLI?​

With the current price action, the ETF appears to be positioned for a bounce. Based on the Elliott Wave structure, we expect the ETF to remain above 128.21 and trade higher, targeting the $148– $154 range before another potential pullback. Therefore, it is essential to keep monitoring this zone as we approach it.

Conclusion​

In conclusion, our Elliott Wave analysis of SPDR Industrial ETF ($XLI ) suggests that it could rally in the medium term. Therefore, traders should monitor the $148– $154 zone as the next target, keeping an eye out for any corrective pullbacks. By using Elliott Wave Theory, we can identify potential buying areas and enhance risk management in volatile markets.
Source: https://elliottwave-forecast.com/st...-xli-blue-box-area-offers-buying-opportunity/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of Dollar Index DXY published in members area of the website. As our members know , Dollar shows bearish sequences in the cycle from the 110.157 peak. In the following text, we will explain the Elliott Wave forecast in more detail.

Dollar Index DXY Elliott Wave 1 Hour Chart 04.02.2025​

As mentioned earlier, Dollar is showing bearish sequences - 5 waves pattern from the 110.15 high, and we expect further weakness in the US Dollar. Current Elliott Wave analysis suggests that DXY completed a three-wave recovery at the 104.68 high, marked as wave 4 red. As long as the price remains below this level, we anticipate continued downside in Dollar index..

At this stage, we do not recommend buying and favoring the short side.

You can learn more about Elliott Wave Patterns at our​

90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

Dollar Index DXY Elliott Wave 1 Hour Chart 04.03.2025​

The price remained below the marked invalidation level, leading to a further decline as anticipated. Eventually, it broke the previous low at 103.22, confirming that the next leg down is underway. The Dollar Index remains bearish as long as it holds the 104.67 pivot. We anticipate continued weakness, with a downside target of 101.51 (wave 5 = wave 1).

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.

​

Source: https://elliottwave-forecast.com/forex/dollar-index-dxy-elliott-wave-3/

 

[Elliottwave-Forecast]

SIL (Silver Miners ETF) is a financial instrument crafted to track the performance of silver mining companies. It provides investors with a convenient avenue to tap into the silver market without the need to acquire physical silver or individual mining stocks directly. By distributing investments across various companies in the sector, SIL helps diversify risk, potentially serving as a buffer against fluctuations in silver prices. In this article, we will explore the Elliott Wave outlook for this ETF.

SIL (Silver Miners ETF) Monthly Elliott Wave Chart​

The monthly Elliott Wave chart for Silver Miners (SIL) shows that the ETF hit a major low of 14.94 in 2016, marking the end of a long-term cycle. Since then, it’s been climbing steadily in an upward trend. From that 2016 low, it surged to 54.34 before pulling back to 16. After that dip, SIL took off again, reaching 52.87, followed by another drop to 21.26. More recently, it rallied to 42.29, and now it’s in the middle of a pullback that started after its September 2022 low. This dip is part of a bigger pattern, and as long as it stays above 16, buyers are likely to step in during this correction, setting the stage for the next move higher.

Silver Miners ETF Daily Elliott Wave Chart​

The daily chart for the Silver Miners ETF (SIL) shows that a pullback hit its low at 21.13 in September 2022. From there, the ETF started climbing in a clear five-step rally in diagonal form. It first rose to 33.24, dipped to 22.57, then pushed higher to 36.75. After a drop to 28.02, it made one final leap to 42.29, wrapping up the first big upward move. Now, it’s in the middle of a pullback that began after that September 2022 low, with a potential landing spot between 24 and 30.6—marked as the blue box area. As long as it holds above 21.13, buyers are likely to step in around 24 to 30.6, setting up the next climb.

Source: https://elliottwave-forecast.com/stock-market/silver-miners-etf-sil-looking-double-correction/

 

[Elliottwave-Forecast]

Walmart (NYSE: WMT) is down 20% from the peak but is it the right time to start buying the stock at current levels ? In this article we'll go over the Elliott Wave structure for the current move and explain the potential expected path.

WMT is current currently showing an impulsive 5 waves decline from the peak. The move is proposed to be wave ((A)) of a corrective 3 waves Zigzag structure and it should be seeing a wave ((B)) bounce then another leg lower in wave ((C)).

Elliott Wave ZigZag Structure​

You can learn more about Elliott Wave Patterns at our​

Remember, the market is dynamic, so the presented view may have changed in the meantime. You can also ask for live updates in our Live Trading Room, where our expert analysts provide next buying opportunity based on new market data.

WMT Daily Elliott Wave Chart​

The above chart shows WMT trading within the equal legs area of $86-$78, where it may complete the 5-wave decline. However, impulsive declines often extend beyond the 1.618 Fibonacci extension. Hence, buying at this stage during the bounce in wave ((B)) is not advisable. As the daily correction progresses, Walmart may aim to revisit its August 2024 low near the $66 mark.. Therefore, it is better to wait for the market to establish a clear connector before identifying the next buying opportunity.

In conclusion, the sharp impulsive decline indicates that the upcoming bounce is likely to fail. Walmart (WMT) may see further downside ahead. The preferred strategy is to consider buying the stock after it forms a 3, 7, or 11 swings sequence from the peak. Using our extreme Blue Box System will help identify the optimal entry points, providing clarity and precision in your trading decisions. Explore our system to gain deeper insights into this methodology.

Source: https://elliottwave-forecast.com/stock-market/walmart-wmt-pain/

 

[Elliottwave-Forecast]

The SPDR S&P Biotech ETF (XBI) is an exchange-traded fund that tracks the biotechnology segment of the S&P Total Market Index. This ETF allows investors to gain exposure to large, mid, and small-cap biotech stocks. If you’re interested in biotechnology, XBI could be worth exploring further. Here are some of its top holdings and their percentage weights: United Therapeutics Corporation (UTHR): 2.92%. Exact Sciences Corporation (EXAS): 2.91%. Gilead Sciences, Inc. (GILD): 2.89%. Sarepta Therapeutics, Inc. (SRPT): 2.87%. Amgen Inc. (AMGN): 2.84%. Alnylam Pharmaceuticals, Inc. (ALNY): 2.65%. Regeneron Pharmaceuticals, Inc. (REGN): 2.64%. Vertex Pharmaceuticals Incorporated (VRTX): 2.60%. AbbVie Inc. (ABBV): 2.60%. BioMarin Pharmaceutical Inc. (BMRN): 2.56%.

In November, we called a leading diagonal structure completed as wave (I). The market had started a wave (II) correction, and we are looking for more downside for buying dips. You can check out the old blog here: Biotech ETF Ended a Diagonal. Looking for Buying Dips

XBI Weekly Chart November 25th, 2024​

​

The wave I of the diagonal ended at 95.17 high. Then wave II built a zig zag correction with a flat structure in the middle. This pullback ended at 63.80 low and rally again. Wave III did a strong movement as wave I reaching 103.53 high. The retracement as wave IV finished at 81.14. The last push to the upside was a little irregular. It could be labeled as a ending diagonal to 105.47 high, completing wave V and wave (I). Then, the wave (II) has started, and we were looking to end 3, 7 or 11 swings correction where we like to buy the dips against 61.78 low.

XBI Weekly Chart April 05th 2025​

After a few months, we can clearly see that the correction had begun. Wave "a" formed a leading diagonal ending at a low of 86.40. While the correction as wave "b" concluded at 88.98 high. XBI has entered an extreme zone to complete wave (II). We should observe an impulse structure moving downward from wave "b" to assess the possibility of the correction ending. Currently, the market is moving within wave ((3)) of "c" and continues to decline sharply. For no reason can we rule out the market breaking below 61.78. If the zone proves to be a good support, great; but if not, breaking below 61.78 could send the Biotechnology sector to the 41.33 - 36.09 area.

Let's see what the market brings us. Trade Smart!

Source: https://elliottwave-forecast.com/stock-market/biotech-etf-xbi-crash-next-rally/

 

[Elliottwave-Forecast]

Elliott Wave analysis suggests EQT Corporation is poised for a major bullish breakout, with multiple impulsive sequences unfolding across timeframes.​

EQT Corporation (EQT) continues to show strong potential for further gains based on its long-term and short-term Elliott Wave structures. The monthly and daily charts both suggest that the stock is entering an impulsive phase of a larger bullish cycle.

Long-Term Elliott Wave Structure​

On the monthly chart, EQT has completed a major corrective cycle ending in wave ((II)), with the low marked around $4.18. This bottom represents a significant structural support. From this low, the stock began a new impulsive phase. Wave ((I)) unfolded in a clear five-wave advance, and the correction that followed as wave ((II)) is now over. EQT is currently advancing in wave (III), which is subdividing into five minor waves.

Within this new impulse, we can already see waves ((1)), ((2)) completed and ((3)) of I is in progress within larger (III). The invalidation level is placed at $0.2809, a historically distant support level that underscores the bullish bias.

The “Right Side” tag remains green, confirming the upward directional bias. Additionally, the message “We Do Not Recommend Selling” supports the idea of staying with the trend. This is especially important since the structure projects much higher prices in the coming years.

Short-Term Outlook​

On the daily chart, the price action shows wave 1 and 2 of a smaller degree have completed, and EQT is currently in the early stages of wave 3. The internal structure of this wave suggests that a powerful rally may be underway.

The “Turning Up” tag and continued bullish wave progression suggest that traders should watch for pullbacks to enter long positions. The corrective wave 2 in red, unfolding as a typical (a)-(b)-(c) zigzag, appears near completion, setting the stage for wave 3 to unfold.

Conclusion​

EQT offers a compelling setup for both investors and short-term traders. The multi-timeframe Elliott Wave structure suggests a strong bullish trend ahead. As long as the price stays above key invalidation levels, the outlook remains positive. Pullbacks should be treated as buying opportunities rather than exit signals.

Source: https://elliottwave-forecast.com/stock-market/958762/

 

[Elliottwave-Forecast]

NextEra Energy, Inc. (NEE) operates in the Utility sector, generating and distributing electricity to retail and wholesale customers in North America. Its energy portfolio includes wind, solar, nuclear, and natural gas, emphasizing clean energy solutions. The company is listed on NYSE with the ticker “NEE.”

NEE - Elliott Wave Latest Weekly View:​

Based on Elliott Wave article from 2.24.2025, NEE ended its ((X)) at $76.29 in the extreme area& resumed lower in ((Y)), breaking below ((W)) low. This signals weakness towards $56.17 or lower. In the weekly chart, it ended ((I)) at $93.73 in December-2021, followed by a double three ((II)) correction ending at $47.15 in October-2023. The recent I impulse concluded at $86.10 in September-2024. Current analysis favors a double three correction in II, extending towards $56.17 against March-2025 high.

NEE - Elliott Wave View From 2.24.2025:​

Within the recent ((X)), NEE achieved $76.29 on March 10, 2025. Below this, further downside is expected in (W) of ((Y)), targeting $63.89 - $60.94 area before a bounce in (X). Another move lower is anticipated towards $56.17 – $51.39 to complete II. The pullback should remain above the $47.15 low, setting up for higher levels in III or at least a three-swing bounce. The short-term outlook suggests selling the bounce in (X) against the $76.29 high in 3, 7 or 11 swings at extreme area, with a target of $56.17 or lower levels.

Source: https://elliottwave-forecast.com/st...e-continues-potential-downside-towards-56-17/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of NASDAQ ( NQ_F ) published in members area of the website. As our members know, NQ_F has shown incomplete bearish sequences in the cycle from the 22410.9 peak (December 2024 ). The price structure indicated further weakness. In the following text, we will provide a more detailed explanation of the Elliott Wave forecast.

NQ_F Elliott Wave 1 Hour Asia Chart 04.02.2025​

The break of the March 10th low, marked on the chart as (1) in blue, created incomplete bearish sequences in NQ_F. We anticipated a further drop as long as the pivot at the 20,537.4 peak holds. Currently, NASDAQ is undergoing a 3-wave recovery in (4) blue, which is expected to complete around the 19,761–20,215 area. We do not recommend forcing trades at this stage and expect NQ_F to continue dropping towards new lows.

Important : 90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

NQ_F Elliott Wave 1 Hour Asia Chart 04.08.2025​

NASDAQ completed its recovery at the 20,052.63 peak and then declined further toward new lows, as expected. The current view suggests that as long as the price stays below 18,358, another low could be seen. NQ_F may drop toward the 17,202–16,417 range to complete the proposed cycle from the December 2024 peak.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.



Source: https://elliottwave-forecast.com/stock-market/nasdaq-nq_f-elliott-wave/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of EURCAD. In which, the rally from 22 November 2024 low is unfolding as an impulse sequence. Therefore, called for an extension higher to take place. We knew that the structure in EURCAD should remain supported & extend higher. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

EURCAD 1-Hour Elliott Wave Chart From 3.21.2025​

Here’s the 1-hour Elliott wave Chart from the 3.21.2025 Asia update. In which, the rally to 1.5857 high completed wave ((iii)) & made a pullback in wave ((iv)). The internals of that pullback unfolded as Elliott wave zigzag correction where wave (a) ended at 1.5571 low. Then a bounce to 1.5738 high-ended wave (b) & started the next leg lower in wave (c) towards 1.5449- 1.5272 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

EURCAD Latest 1-Hour Elliott Wave Chart From 4.08.2025​

This is the latest 1-hour Elliott wave Chart from the 4.08.2025 Asia update. In which the pair is showing a strong reaction higher taking place, right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above 1.5857 high is still needed to confirm the next extension higher minimum towards 1.5985- 1.6190 area & avoid double correction lower.

Source: https://elliottwave-forecast.com/forex/eurcad-precise-reaction-whats-next/

 

[Elliottwave-Forecast]

Constellation Energy (NASDAQ: CEG) has faced a dramatic 50% crash since the start of the year. In this article we will review the recent downturn, evaluate the Elliott Wave technical framework, and highlights potential paths for growth ahead.

In a previous 2023 article, we analyzed the impulsive bullish rally that began in January 2022. This cycle completed an impressive 5-wave advance from the low, reaching its peak in January 2025. According to Elliott Wave Theory, a typical 5-wave impulse concludes with the market entering a corrective phase. This correction unfolds in sequences of 3, 7, or 11 swings before the prevailing trend resumes its course. Understanding these patterns can help anticipate potential market movements and identify strategic entry points.

​

You can learn more about Elliott Wave Patterns at our​

Remember, the market is dynamic, so the presented view may have changed in the meantime. You can also ask for live updates in our Live Trading Room, where our expert analysts provide next buying opportunity based on new market data.

CEG Elliott Wave Weekly Chart 04.08.2025​

CEG has entered the wave II corrective phase, indicating a likely 3-wave Zigzag structure. The initial decline from the peak exhibits a clear 5-wave pattern, labeled as wave a. Following this move, a bounce in wave b is anticipated before a final downward leg in wave c completes the correction.

In conclusion, the sharp impulsive decline suggests the next bounce is unlikely to hold. CEG appears poised for further downside before the correction phase completes. Patience will be key in identifying the right buying opportunity as the market unfolds.

The preferred strategy is to consider buying the stock after it forms a 3, 7, or 11 swings sequence from the peak. Using our extreme Blue Box system will help identify the optimal entry points, providing clarity and precision in your trading decisions. Explore our system to gain deeper insights into this methodology.

Source: https://elliottwave-forecast.com/stock-market/ceg-next-move/

 

[Elliottwave-Forecast]

Zomato Ltd. is poised to resume its uptrend after completing wave IV, with Elliott Wave analysis pointing toward a strong rally in wave V.​

Zomato maintains a strong bullish Elliott Wave outlook. The daily chart suggests that wave IV has likely ended, paving the way for the final advance in wave V. This rally is part of a long-term impulsive cycle that began near ₹44.59—also the key invalidation level.

Long-Term Elliott Wave View​

From the 2022 lows, the stock developed a clean five-wave impulse, which culminated in a major wave III peak. Afterward, a deep correction unfolded as wave IV, forming a classic ((A))-((B))-((C)) zigzag structure. This corrective move concluded with a clear five-wave decline into the bottom of wave ((C)), signaling the end of the correction.

As a result, Zomato is now likely in the early stages of wave V. This final leg of the cycle could push the price well beyond its previous high. Potential upside targets range between ₹320 and ₹360 over the coming months.

​

Short-Term Development and Strategy​

Looking at the smaller degree structure, the early part of wave ((1)) in V is already forming. A brief pullback in wave ((2)) may follow, offering an opportunity for traders to position with the trend. This setup aligns with a bullish continuation pattern.

Importantly, the chart includes a “Right Side” tag pointing upward. Additionally, the note “We Do Not Recommend Selling” supports the bullish case. These indicators confirm the preferred strategy is to buy pullbacks.

Conclusion​

Zomato appears poised for further gains. As long as the price stays above ₹44.59, the uptrend remains intact. Traders and investors should stay on the bullish side and look for pullbacks in wave V to enter long positions.

Source: https://elliottwave-forecast.com/st...liott-wave-analysis-bullish-structure-intact/

 

[Elliottwave-Forecast]

Hello traders and welcome to a a new blog post. This post will discuss how we utilize the Elliott wave theory to spot trading opportunities from our proprietary blue box zone. In this one, the spotlight will be on AMZN stock price.

Amazon.com, Inc. is a global tech giant known for its e-commerce platform, cloud computing services (AWS), and digital innovation. Founded by Jeff Bezos in 1994, the company has grown into one of the world’s most valuable and influential corporations, trading under the ticker AMZN on the NASDAQ.

AMZN started a pullback in February 2025 to correct the bullish cycle from December 2022. Typically, such pullbacks either complete a 3, 7 or 11 swing structure. From the top of February, AMZN completed a 5-wave impulse structure which we labelled wave ((A)) for members. Thus, a 3-swing bounce should follow and another 5-wave lower to finish a bigger degree ((A))-((B))-((C)) decline that should correct the bullish cycle from December 2022. Eventually, a 3-swing bounce followed for wave ((B)) and price broke the low of ((A)) to establish ((C)). However, wave ((C)) was far from being completed. Thus, we mentioned to members to sell next bounces in 3,7 or 11 swings on the H1 till ((C)) is exhausted at the equal leg.

AMZN Elliott Wave Setup - 2nd April, 2025​

Wave ((B)) breached the low of ((A)) on 18th March 2025 with a 5-wave impulse structure. We identified the low as wave (1) of ((C)). Afterwards, a corrective bounce immediately started for wave (2) of ((C)). The corrective bounce developed stronger to be a 7-swing structure. Therefore, we sent the chart below to members to sell AMZN from the blue box extreme of the corrective bounce

[caption id="attachment_958837" align="aligncenter" width="1024"] AMZN, 30 Min[/caption]
We shared the 30min chart above with the Elliottwave-forecast members identifying 196.90-202.79 as the blue box. This meant that members could sell at 196.90 and set stop at 202.79. In addition, we discussed trade management guidelines as we always like to protect profits and cut risks down to zero when the price moves in our direction.

AMZN Elliott Wave Setup - 8th April, 2025​

[caption id="attachment_958838" align="aligncenter" width="1024"] AMZN, 30 Mins[/caption]
We shared the AMZN 30 mins chart above with members on 8th April 2025. This chart shows how the stock hit the blue box to trigger a short trade. A few days later, AMZN stock plummeted by 19% to make profit for members.

AMZN Short Term Analysis - What Next?​

The pullback from February 2025 high has not yet reached the extreme at $154-141. Thus it could still extend lower while price trades below $207 (26th March high). Thus, there can still be short term sell opportunities from the blue box for members targeting this extreme. Members will get more on this in the upcoming updates.

Source: https://elliottwave-forecast.com/stock-market/amzn-falls-from-blue-box-zone/

 

[Elliottwave-Forecast]

Hello Traders!

Today, we’ll take a closer look at the weekly Elliott Wave structure of Costco Wholesale Corp ($COST) and discuss why the current pullback may present an upcoming buying opportunity.

5 Wave Impulse Structure + ABC correction​

$COST Weekly Elliott Wave View April 8th 2025:​

Since the low in May 2022, $COST has been unfolding in a 5-wave impulsive structure with a triple nest. This bullish cycle peaked with wave (I) on February 13, 2025, marking the completion of a significant rally.

As expected after a strong impulsive move, the stock has been correcting lower in a zig-zag (ABC) structure, which is a common Elliott Wave corrective pattern. This pullback is now approaching a key Blue Box area, where buyers are anticipated to step in and initiate the next leg higher in wave (III).

Key Technical Levels to Watch​

• The Blue Box target zone for the correction is between $798.89 – $677.13.
• As long as price remains above $406.51, the bullish outlook remains valid.
• A confirmed reaction from this zone could set the stage for the next rally toward new highs.

Trading Strategy & Risk Management​

While we expect the stock to move lower into the Blue Box, traders should be cautious about shorting the final leg of the decline. Truncations can occur at this stage, meaning the stock may reverse earlier than expected.

Corrections can unfold in 3, 7, or 11 swings, so risk management is crucial. If $COST bounces from the Blue Box, it may still extend lower in a double zig-zag (WXY) structure before a sustainable rally. That’s why we recommend booking partial profits and getting risk-free once the stock reacts positively from the support zone.

Conclusion​

Costco's current pullback is nearing a critical support level. If price holds above the invalidation level at $406.51, the stock is expected to resume its bullish trend in wave (III). Traders should watch for buying opportunities as sellers begin to exhaust and the market sets up for another move higher.

Source: https://elliottwave-forecast.com/vi...-can-decline-25-providing-buying-opportunity/