ASX: TRANSURBAN GROUP - TCL Elliott Wave Analysis | TradingLounge
Greetings! Today's Elliott Wave analysis focuses on the Australian Stock Exchange (ASX) and TRANSURBAN GROUP - TCL. Our evaluation suggests that TCL.ASX is poised to enter a bull market phase with wave (iii)-orange leading the charge.
ASX: TRANSURBAN GROUP - TCL 1D Chart Analysis (Semilog Scale)
TCL Elliott Wave Technical Analysis
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave (ii)-orange of Wave 3-grey
Details:
- Wave (i)-orange has concluded, with wave (ii)-orange unfolding as a zigzag correction likely to dip lower before reversing.
- A move above 13.10 would signal the start of wave (iii)-orange, marking upward momentum.
Invalidation Point: 11.92
ASX: TRANSURBAN GROUP - TCL 4-Hour Chart Analysis
Function: Major trend (Minuette degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave ((5))-navy of Wave c-grey of Wave (ii)-orange
Details:
- Wave (i)-orange has completed as a five-wave impulse.
- Wave (ii)-orange is evolving as a zigzag structure labeled a,b,c-grey.
- Both wave a-grey and wave b-grey are complete, and wave c-grey appears to be nearing its end.
- A push above 13.00 will be the initial confirmation that wave (iii)-orange is beginning to climb.
Invalidation Point: 11.92
Key Point: 13.00
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our analysis provides actionable insights into ASX: TRANSURBAN GROUP - TCL and its current trends. By tracking key price levels such as 13.00 and 13.10, traders can gauge the validity of the wave count and confirm upward momentum. The invalidation level of 11.92 serves as a critical point for risk management.
By incorporating these observations, we aim to empower readers with an objective perspective to capitalize on emerging market trends effectively.