Oh $hit! 5th Wave W5 Up on Google / $GOOGL ? In progress..but..uh oh long term

 

Nov14goog

This is the long term elliott wave forecast for Google (GOOGL) based on the 10 year chart going back to the IPO.

Best case scenario:  Recent ABC flat correction was a W2 before 3 of 3 or W3 of W3…highest target could hit as high as 1100-1150 before retracing in a W4…that’s still a long way to go, but..the problem is this…

Worst case scenario:  The recent retracemnt from 620 to 495 was a .382 W4 ABC flat..if this is the case, it’s currently in a 5th wave, and pretty damn near it’s 618 X w1 + w3 target.  618 X w1 + W3 is the most common 5th wave I’ve seen since the 2009 low, and that target is right at 780-800, which is REALLY close to where it hit recently.  If this is the case, upside would be capped here big time in the 780-800 range and by Jan of next year we could see a huge descent in a corrective W4 or W2.  W4 would be back to 500-550, but W2, as low as 280-300.  I’m not good at calling tops and really don’t want to see that happen with Google, but it damn sure looks like 5 waves up.

Where I’m leaning:  If this is 5 waves up in Google, avoid at all costs..no matter how tempting this thing may be..the downside risk is super enormous.

Oh $hit! 5th Wave W5 Up on Google / $GOOGL ? In progress..but..uh oh long term on November 14, 2015 rated 0.7 of 5

About the author

CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."

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