GE Vernova Inc. (GEV) is experiencing an uptrend, supported by its Elliott Wave structure. The recent pullback is identified as wave (II), setting the path for a new bullish move.
The analysis indicates a five-wave impulse, with wave (I) peaking earlier this year, followed by a corrective phase that ended at a support level of $266.08, which coincides with the Fibonacci retracement zone. The stock is now entering wave (III), noted for strong price acceleration, with projected price targets between $450 and $500.
Trading Strategy And Risk Management
Traders are advised to take long positions while the dominant trend remains bullish, with an invalidation level at $114.93 for risk management. A drop below this level would require a reassessment of the bullish outlook.
The continued bullish structure with wave (III) suggests traders should see pullbacks as buying opportunities. The long-term outlook remains optimistic, indicating a potential breakout towards new highs in the near future.
The rise in GE Vernova Inc.’s share price aligns with Elliott Wave theory, which refers to the natural progression of market cycles. What we are seeing now appears to be a second-wave pullback, typically a pause before momentum strengthens again. That correction seems to have ended at $266.08, a level that matches well with Fibonacci retracement principles.
Wave III And Potential Price Targets
At this point, the third wave is expected to take hold, known for driving fast and steep price movements. Based on past market behaviour, this phase typically sees accelerating gains, and projections suggest an upward target could fall somewhere between $450 and $500. Since this pattern tends to be dynamic, traders should remain mindful of opportunities while keeping risk controls in place.
One method often applied in these conditions is to watch for moments of price decline within the broader advance—these dips can serve as useful entry points. The strategic level for managing downside risk sits at $114.93. Should the price slip below this mark, the larger expectation for further gains would need to be reconsidered.
As things currently stand, long positions appear aligned with the dominant trend. With strong technical signals supporting further gains, a breakout to new highs is very much on the table.
