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Elliott Wave View: EQH Should Expect Short Term Correction

December 7, 2021 By

Equitable Holdings Inc (EQH) operates as a diversified financial service through four segments, Individual retirement, Group retirement, Investment management & research & Protection solutions. It based in New York & trades under $EQH ticket at NYSE. It comes under financial services sector as Insurance-diversified industry.

EQH – Elliott Wave Daily View:

Since March-2020 low at $9.89, it started the higher high sequence & made ATH at $36.09. The sequence higher was clearly the part of impulse cycle up, which favored ended in November-2021 & expect to correct lower.

It started higher high sequence from March-2020 low at $9.89. It favored ended ((1)) at $24.19 high on 6/05/2020, while below there ((2)) ended at $17.33 low on 9/24/2020. The ((2)) was 0.5 retracement against the previous cycle. It favored ended ((3)) at $35.46 high on 5/06/2021. The ((4)) wave ended at $27.54 low on 9/20/2021 as slightly below 0.382 retracement as double correction. While above there it favored ended ((5)) at $36.09 high on 11/05/2021 as I red within the cycle from March-2020 low. Currently it proposed doing zigzag correction in II before it resume the next leg higher. Alternatively, it can do double correction lower in II, while bounce fails below $36.09 high. We like to buy the dips in 3, 7 or 11 swing at an extreme areas when seen.

In shorter cycle, below $36.09 high, it favored ended ((A)) at $30.57 low on 12/01/2021. While dips remain above $30.57 low, it expect to correct higher in ((B)), which ideally should fail below $36.09 high & extend lower in ((C)) of II to end the correction against March-2020 low.

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