ASX Stock: South32 Limited – S32 Elliott Wave Analysis TradingLounge (1D Chart)
Greetings, This Elliott Wave analysis offers an update on the Australian Stock Exchange (ASX) SOUTH32 LIMITED – S32. We observe that S32 continues its downward movement within the (Y)-orange wave.
ASX: South32 Limited – S32 Elliott Wave Technical Analysis
ASX: SOUTH32 LIMITED – S32 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave ((v))-navy of Wave A-grey
Details: The ((v))-navy wave appears to be moving lower. However, a price rise above 3.17 would indicate the conclusion of the ((v))-navy wave earlier than expected, marking the completion of the five-wave sequence (Wave A-grey). At this point, a larger corrective wave (Wave B-grey) would likely begin, pushing prices upward.
Invalidation point: 3.17
ASX: South32 Limited Stock Analysis TradingLounge (4-Hour Chart)
S32 Elliott Wave Technical Analysis
ASX: South32 Limited – S32 4-Hour Chart Analysis
Function: Major Trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (ii)-orange of Wave ((v))-navy
Details: Wave ((iv))-navy seems to have finished as an Expanded Flat. Currently, Wave ((v))-navy appears to be unfolding with a downward trajectory. However, this count shows some weakness, as recent price action is approaching the 3.17 level. If the price surpasses this point, a reevaluation of the current wave structure would be required.
Invalidation point: 3.17
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
Our technical analysis for ASX: SOUTH32 LIMITED – S32 highlights ongoing market trends, offering traders key insights on potential opportunities. By providing precise validation and invalidation levels, we strengthen the confidence in our Elliott Wave count. This approach ensures a professional and objective outlook on the current market conditions.