ASX: News Corporation - NWS Elliott Wave Analysis (1D Chart)
Greetings, our Elliott Wave analysis for today brings an update on News Corporation (NWS) listed on the Australian Stock Exchange (ASX). Our analysis indicates that NWS.ASX might be set to rise within wave ((iii))-navy.
ASX: News Corporation - NWS Elliott Wave Technical Analysis
ASX: News Corporation - NWS 1D Chart (Semilog Scale) Analysis
Function: Major Trend (Minuette degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave ((iii))-navy of Wave 5-grey
Details: Wave 5-grey appears to be extending as it subdivides into wave ((iii))-navy, continuing its upward trajectory. The price must stay above the 40.00 low to maintain this outlook.
Invalidation Point: 40.00
ASX: News Corporation - NWS Elliott Wave Analysis (4-Hour Chart)
ASX: News Corporation - NWS Elliott Wave Technical Analysis
ASX: News Corporation - NWS 4-Hour Chart Analysis
Function: Major Trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-orange of Wave ((iii))-navy
Details: Wave ((iii))-navy has been pushing higher since the 40.00 level, subdividing into waves (i) and (ii)-orange. It appears that wave (ii)-orange likely ended at 41.40, with wave (iii)-orange now unfolding to target a high of 47.19.
Invalidation Point: 41.40
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis, including the short-term forecast for ASX: News Corporation (NWS), aims to provide valuable insights into current market trends, enabling traders to capitalize on these movements effectively. By identifying specific price points that serve as validation or invalidation signals for our wave count, we enhance the reliability of our outlook. Through this analysis, we strive to deliver the most objective and professional perspective on market trends.