DXCM (NASDAQ) – Weekly Elliott Wave & Technical AnalysisDexCom, Inc.BATS:DXCMimkhushalChart Timeframe: Weekly Instrument: DexCom Inc. (NASDAQ: DXCM) 📈 Technical View DexCom appears to have completed a textbook five-wave impulsive advance, followed by a prolonged A-B-C corrective structure that may now be complete. I believe Wave (C) may have bottomed near the 67.8% Fibonacci retracement, where price found strong buying interest and produced a noticeable rebound. Elliott Wave Perspective The long-term structure can be summarized as: ✅ Completed 5-wave impulse ✅ ABC corrective decline ✅ Wave (C) appears to have terminated near major Fibonacci support 🔄 Price has started to recover from that low The reaction from this support increases the probability that a new impulsive cycle has begun. Why I Think the Correction May Be Over ✔ Strong Fibonacci Support Price respected the 67.8% retracement (~$53.76) almost perfectly. This is a common termination zone for higher-degree Elliott corrections. ✔ Wave (C) Looks Complete The decline has become increasingly overlapping and corrective rather than impulsive. Selling momentum also appears to be fading. ✔ Buyers Defended Support The latest advance shows buyers stepping in aggressively after testing the Fibonacci support. If this low remains intact, it strengthens the bullish interpretation. ✔ Risk-to-Reward Has Improved Rather than chasing highs near $166, the market is now trading after a deep correction. This generally offers a much better long-term reward relative to risk if the bullish count is correct. What Needs Confirmation? Although the structure is improving, Elliott Wave always requires confirmation. The bullish case strengthens if DXCM: Breaks above the descending resistance line. Produces a sequence of higher highs and higher lows. Closes decisively above the recent swing highs. Expands volume during the advance. These developments would increase confidence that a new impulsive trend is underway. Bullish Outlook If the correction has indeed ended, the next objectives could be: 🎯 Initial Target: $217–220 🎯 Medium-Term Target: $300-318 🎯 Long-Term Target: $450-483 A breakout above $166 would strongly suggest the start of a new higher-degree bullish impulse. Invalidation The bullish interpretation would weaken if price breaks decisively below the recent Wave (C) low. Such a move would suggest the correction is still unfolding or that the wave count needs to be revised. Conclusion From an Elliott Wave perspective, DXCM appears to be at an important inflection point. The reaction from the 67.8% Fibonacci retracement, combined with what looks like a completed ABC correction, suggests the multi-year corrective phase may have concluded. While confirmation is still required, the current structure favors a cautiously bullish outlook. Sustained strength above the descending resistance trendline and the development of higher highs would provide stronger evidence that a new impulsive cycle has begun. Disclaimer This analysis reflects my personal interpretation of Elliott Wave Theory, Fibonacci analysis, and price action. Elliott Wave counts are inherently subjective and may evolve as new market data becomes available. The views expressed are for educational and informational purposes only and should not be considered financial or investment advice. Always conduct your own research, manage risk appropriately, and consult a qualified financial advisor before making any investment decisions. Thank you for your reading....