Align Technology Elliott Wave Analysis Suggests Potential New Highs
The monthly chart of Align Technology shows a completed wave III near $700 and an ongoing corrective wave IV, with potential for a wave V rally to new highs.
ALGN
Align Technology (NASDAQ: ALGN) maintains a bullish Elliott Wave structure according to recent technical analysis. Despite a sharp decline from its 2021 peak, the monthly chart indicates that the stock completed a major wave III advance near the $700 area.
The stock is now believed to be in a large corrective phase, with a "blue box" support zone potentially launching wave V to new highs. Traders are watching for a breakout above the current resistance levels.
Source: FXStreet Forex News