FX.co ★ Elliott wave analysis of Alphabet for October 31, 2023

Google or Alphabet will likely end October with a key-reversal candle, indicating that a top is in place for a larger decline in wave C towards the 50% corrective target at 78.58. This is in line with the expected zig-zag correction that began from the 150.97 peak in November 2021. We have seen wave A decline from 150.97 to a low of 83.34 in November 2022 from where wave B took over for a rally towards 141.22 and now the key-reversal signals that wave C is ready to take over for the next part of the corrective pattern towards the 50% target at 78.58.