Currently, questions about the implementation of economic and production activities are raised quite often, namely about the dynamically changing market. The relevance of the topic lies in the importance and need to adhere to a number of methods when analyzing time series. The article presents arguments justifying the decomposition of the time series and forecasting. The authors analyze the Elliott Wave Theory method and give an interpretation of the price movement. They also describe a number of advantages of technical analysis. The article provides statistical data on the practical application of the Elliott Wave Theory at the largest steel-producing plant in Russia – PJSC Novolipetsk Metallurgical Combine. The researchers analyzed the trend of the shares of PJSC Novolipetsk Metallurgical Combine and identified their real value in order to confirm the effective operation of the wave analysis.