ASX: Northern Star Resources Ltd – NST Elliott Wave Analysis (1D Chart)
Greetings, today we update our Elliott Wave analysis for the Australian Stock Exchange (ASX) focusing on Northern Star Resources Ltd – NST. Our analysis indicates that NST.ASX continues its upward momentum.
ASX: Northern Star Resources Ltd – NST 1D Chart (Semilog Scale) Analysis
NST Elliott Wave Technical Analysis
Function: Major Trend (Intermediate Degree, Orange)
Mode: Motive
Structure: Impulse
Position: Wave ((iii))-navy of Wave 3-grey of Wave (3)-orange
Details:
Wave ((ii))-navy appears to have ended, and Wave ((iii))-navy is in progress. It is pushing higher with a target range between 18.00-20.00, while the price must stay above 15.50 to keep this outlook valid.
Invalidation Point: 15.50
ASX: Northern Star Resources Ltd – NST 4-Hour Chart Analysis
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-orange of Wave ((iii))-navy of Wave 3-grey
Details:
Wave (iii)-orange is currently extending upward to complete its movement, aiming for a target around the 19.37 level. The price must remain above the 16.48 level to prevent wave (iv)-orange from overlapping with wave (iii)-orange.
Invalidation Point: 16.48
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis of ASX: Northern Star Resources Ltd – NST provides a clear outlook on both intermediate and minor trend developments. We offer critical price points that serve as validation or invalidation levels for the current wave count, reinforcing the confidence in our technical view. By combining this information, we aim to offer readers a reliable and objective perspective on the ongoing market trends for NST.ASX.