ASX: Brambles Limited – BXB Elliott Wave Analysis (1D Chart)
Welcome to today’s Elliott Wave analysis update for the Australian Stock Exchange (ASX) featuring Brambles Limited (BXB). Our analysis indicates that BXB may continue its upward momentum, driven by a developing v-grey wave.
ASX: Brambles Limited - BXB 1D Chart (Semilog Scale) Overview
BXB Elliott Wave Technical Analysis
Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave ((3))-navy of Wave v-grey of Wave (iii)-orange
Analysis Details: The v-grey wave is currently advancing and may target the Major Level of 20.00. The structure suggests that the v-grey wave is expanding and subdividing into wave ((3))-navy, signaling further potential upside.
Invalidation Point: 17.99
ASX: Brambles Limited - BXB 4-Hour Chart Overview
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave ((3))-navy of Wave v-grey
Analysis Details: From the recent low of 17.32, the v-grey wave has shown signs of advancing. Both wave ((1))-navy and wave ((2))-navy have completed, and wave ((3))-navy is currently progressing, with a potential move toward the Major Level of 20.00.
Invalidation Point: 17.99
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
Our updated Elliott Wave analysis for ASX: Brambles Limited (BXB) highlights the ongoing trends and potential price movements. We provide specific price levels that serve as validation or invalidation points to strengthen our wave count's accuracy. This approach helps traders to make informed decisions based on objective market insights and trend forecasts.