Greetings, Our latest Elliott Wave analysis for today focuses on the Australian Stock Exchange (ASX) and Aristocrat Leisure Limited (ALL). We observe that wave (v)-orange of wave ((iii))-navy is still unfolding and is likely to push higher.

ASX: Aristocrat Leisure Limited - ALL Stock Tradinglounge Analysis 1D Chart

ASX: Aristocrat Leisure Limited - ALL 1D Chart Analysis (Semilog Scale)

ASX: Aristocrat Leisure Limited - ALL Elliott Wave Technical Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave (v)-orange of Wave ((v))-navy

Details: Wave (iv)-orange likely completed at the 56.04 low, and wave (v)-orange is currently unfolding. The target is within the 61.49 – 65.00 price range. The price must remain above 56.04 to support this outlook.

Invalidation point: 55.06

Aristocrat-Leisure-L...


ASX: Aristocrat Leisure Limited - ALL 4-Hour Chart Analysis

Function: Major trend (Minuette degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave (v)-orange of Wave ((v))-navy

Details: Upon closer inspection, wave (iv)-orange of wave ((v))-navy appears to have ended at the 56.04 low. The next move upward targets a range between 61.49 – 65.00.

Invalidation point: 56.04

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

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

See Previous: ANZ Group Holdings Limited - ANZ Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

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

Aristocrat-Leisure-L...


Conclusion:

Our Elliott Wave analysis and forecast of contextual trends provide a clear view of the market's short-term outlook for ASX: Aristocrat Leisure Limited (ALL). We pinpoint specific price levels that act as validation or invalidation markers for our wave count. This enhances the accuracy and reliability of our predictions, giving traders actionable insights to make informed decisions. Our goal is to deliver an objective and professional perspective on current market trends, helping readers capitalize on opportunities effectively.

Related

Elliott Wave Technical  Analysis of Cardano (ADAUSD): Insights from Daily and H4 Technical Analysis

Elliott Wave Technical Analysis of Cardano (ADAUSD): Insights from Daily and H4 Technical Analysis

This article offers a comprehensive Elliott Wave analysis of Cardano (ADAUSD), providing key insight...

Read More >
British Pound/U.S. Dollar Forex Pair Market Analysis and Detailed Insight on GBPUSD Elliott Wave Technical Analysis

British Pound/U.S. Dollar Forex Pair Market Analysis and Detailed Insight on GBPUSD Elliott Wave Technical Analysis

The GBPUSD Elliott Wave analysis for both the day and 4-hour charts indicates a strong bullish trend...

Read More >
Soybean Elliott Wave Analysis: Impulsive Trend Structure Points to Bearish Correction

Soybean Elliott Wave Analysis: Impulsive Trend Structure Points to Bearish Correction

Since the peak of tensions between Russia and Ukraine in 2022, Soybean prices have depicted a downtr...

Read More >
Wheat Commodity Elliott Wave Technical Analysis: Bullish Corrections and Future Price Movements in Wheat Futures

Wheat Commodity Elliott Wave Technical Analysis: Bullish Corrections and Future Price Movements in Wheat Futures

Our latest wheat price forecast for 2024 is based on Elliott Wave analysis, highlighting key market ...

Read More >
Elliott Wave Analysis Update: Stability and Opportunities in Commodity Markets

Elliott Wave Analysis Update: Stability and Opportunities in Commodity Markets

The latest Elliott Wave analysis of commodity markets shows unchanged wave counts. Bitcoin is confir...

Read More >
Berkshire Hathaway Inc. (BRK.B) Elliott Wave Analysis: Stock Forecast, Trend Outlook, and Technical Analysis for Bullish Momentum

Berkshire Hathaway Inc. (BRK.B) Elliott Wave Analysis: Stock Forecast, Trend Outlook, and Technical Analysis for Bullish Momentum

Berkshire Hathaway (BRK.B) remains in an impulsive Elliott Wave structure, progressing through Wave ...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

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

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

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

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • 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