ASX: Commonwealth Bank of Australia - CBA Stock Analysis 1D Chart

Greetings, Our Elliott Wave analysis today provides an update on the Australian Stock Exchange (ASX) focusing on the Commonwealth Bank of Australia - CBA. We see ASX: CBA exhibiting bullish potential for wave ((iii)).

ASX: Commonwealth Bank of Australia - CBA Elliott Wave Technical Analysis

ASX: Commonwealth Bank of Australia - CBA 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, gray)

Mode: Motive

Structure: Impulse

Position: Wave (ii)-orange of Wave ((iii))-navy

Details: Wave (i)-orange has just completed as a Diagonal, and wave (ii)-orange is currently unfolding to push lower. Sharp and strong corrections typically follow diagonals.

Invalidation point: 124.89

Commonwealth-Bank-of...


ASX: Commonwealth Bank of Australia Stock Analysis 4-Hour Chart

ASX: Commonwealth Bank of Australia - CBA Elliott Wave Technical Analysis (4-Hour Chart)

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave (ii)-orange of Wave ((iii))-navy

Details: Wave (i)-orange has ended below the Diagonal, and wave (ii)-orange is likely to continue pushing lower. The first target could be at 136.98 or even lower. Once wave (ii)-orange concludes, wave (iii)-orange could resume the upward trend.

Invalidation point: 124.89

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: South32 Limited – S2 Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

Commonwealth-Bank-of...


Conclusion:

Our Elliott Wave analysis and short-term outlook for ASX: Commonwealth Bank of Australia - CBA offer insights into current market movements. We provide specific price points that serve as validation or invalidation signals, adding confidence to our wave count. Combining these factors, our objective is to offer the most professional and reliable perspective on the ASX market trends for CBA.

Related

THETA Token/ U.S. dollar(THETAUSD) Elliott Wave Technical Analysis 4 December 23

THETA Token/ U.S. dollar(THETAUSD) Elliott Wave Technical Analysis 4 December 23

THETA Token and U.S. dollar(THETAUSD) Elliott Wave Technical Analysis dated 4 December 23, TradingLo...

Read More >
Critical invalidation levels are set: Bovespa Index Elliott Wave Technical Analysis provides detailed insights

Critical invalidation levels are set: Bovespa Index Elliott Wave Technical Analysis provides detailed insights

The Bovespa Index Elliott Wave analysis provides detailed insights into the current market trends us...

Read More >
Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 1 February 24

Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 1 February 24

TradingLounge Polkadot technical analysis today using Polkadot/US dollar(DOTUSD) Elliott Wave Analys...

Read More >
Our Expert CSL Stock Forecast and Contextual Trends to Capitalize on ASX Market Movements: CSL LIMITED Elliott Wave Technical Analysis

Our Expert CSL Stock Forecast and Contextual Trends to Capitalize on ASX Market Movements: CSL LIMITED Elliott Wave Technical Analysis

Get the latest Elliott Wave analysis for ASX: CSL Limited. Our detailed technical analysis covers st...

Read More >
Silver XAGUSD Commodity Elliott Wave Technical Analysis: It covers the latest market trends, and correction patterns

Silver XAGUSD Commodity Elliott Wave Technical Analysis: It covers the latest market trends, and correction patterns

This article provides a comprehensive Elliott Wave analysis of Silver (XAGUSD), including detailed p...

Read More >
U.S. Dollar / Swiss Franc Forex Currency Pair is Currently in a Corrective Phase - USDCHF Elliott Wave Technical Analysis

U.S. Dollar / Swiss Franc Forex Currency Pair is Currently in a Corrective Phase - USDCHF Elliott Wave Technical Analysis

According to Elliott Wave analysis, the USDCHF is currently in a corrective phase. Orange Wave 2 is ...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on