ASX: Sonic Healthcare Limited – SHL Elliott Wave Analysis (1D Chart)

Greetings, today's Elliott Wave analysis provides an updated view on Sonic Healthcare Limited (ASX: SHL). SHL could be gearing up for a higher push in wave 3-grey.

ASX: Sonic Healthcare Limited – SHL 1D Chart (Semilog Scale) Analysis

SHL Elliott Wave Technical Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((c))-navy of Wave 2-grey

Details: Wave 1-grey has just concluded as a Diagonal, while wave 2-grey is progressing as a Zigzag. Wave ((c))-navy seems close to completion, with wave 3-grey expected to push higher towards a target near 30.00.

Invalidation point: 23.58

ASX: SONIC HEALTHCARE LIMITED – SHL 4-Hour Chart Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((c))-navy of Wave 2-grey

Details: Wave 2-grey continues to unfold downward as a Zigzag. Wave ((a))-navy has completed its five-wave structure, wave ((b))-navy followed, and wave ((c))-navy appears poised to drop slightly lower to complete wave 2-grey. A movement above 26.81 would confirm that wave 2-grey has ended, allowing wave 3-grey to begin pushing higher.

Confirmation point: 26.81

Invalidation point: 23.58

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

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Conclusion:

This Elliott Wave analysis provides insights into current trends and possible price movements for ASX: SONIC HEALTHCARE LIMITED (SHL). Our forecast includes specific validation and invalidation points to enhance confidence in our wave count. By combining these elements, we deliver a precise and professional perspective on SHL's market outlook, helping traders make informed decisions.