EA has shown notable upward pressure, diverging from our expected downside continuation. Despite the recent strength, our primary scenario remains valid: we still anticipate an extension of the ongoing magenta five-wave decline, with wave (3) expected to break below support at $114.60. The remaining legs of this impulsive sequence should also stay beneath that threshold, ultimately forming the low of the broader green wave [C]. However, if bullish momentum persists and pushes the stock above resistance at $169.82, we will shift to the alternative scenario (40% probability). This path suggests green wave alt.[C] – and by extension, beige wave alt.IV – has already concluded, and that EA is now in the early stages of wave alt.V, a significant new uptrend.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.