Splunk Inc ticker symbol: SPLK engages in the development and marketing of cloud software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for Information Technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M. Swan, Michael J. Baum, and Robin K. Das in October 2003 and is headquartered in San Francisco, CA. We will take a look at the Elliott wave view below:

SPLK Weekly Elliott Wave Chart

Above is the Weekly time frame Elliott wave chart of SPLK. In which, the stock is correcting the cycle from all-time lows. So far the decline from the 02 September 2021 peak is unfolding as an Elliott wave double three structure where the first leg ended in the wave (w) at $110.28 low. Up from there, a bounce to $176.55 high-ended wave (x) and made the (y) leg lower. Now, as far as it remains below $176.55 high expect the stock to extend lower towards the $60.93- $33.53 blue box area. From there, buyers are expected to appear looking for wave ((III)) higher or should do a big 3 wave bounce at least.

If you are looking for real-time analysis in stocks & ETFs then join us with a  for the latest updates & price action in the market.

Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.

Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a .

Source:-forecast.com/stock-market/splk-elliott-wave-forecast-analysis/

#elliottwave #trading #Splunk