26Nov

ASX: Santos Limited (STO) Stock Analysis & Elliott Wave Technical Forecast with Key Trends and Actionable Trading Strategies

ASX: SANTOS LIMITED - STO Elliott Wave Analysis TradingLounge 1D Chart

Greetings! Today's Elliott Wave analysis focuses on the Australian Stock Exchange (ASX), specifically SANTOS LIMITED (ASX: STO). Our analysis indicates that ASX: STO is likely to push lower before initiating an upward movement with the ((3))-navy wave.

ASX: SANTOS LIMITED - STO 1D Chart (Semilog Scale) Analysis

SANTOS LIMITED - STO Elliott Wave Technical Analysis

Function: Major Trend (Minor Degree, Gray)

Mode: Motive

Structure: Impulse

Position: Wave C-gray of Wave (Y)-orange of Wave ((2))-navy

Details: Wave ((2))-navy continues to extend longer than initially anticipated. However, we foresee one more downward push before wave ((3))-navy begins its upward trajectory. The target remains around 6.16, where Wave C-gray equals Wave A-gray.

Invalidation Point: 7.45

SANTOS-LIMITED-1D-As...


ASX: SANTOS LIMITED - STO 4-Hour Chart Analysis

Function: Counter-Trend (Primary Degree, Navy)

Mode: Corrective

Structure: Double Zigzag

Position: Wave (v)-navy of Wave C-gray of Wave (Y)-orange of Wave ((2))-navy

Details:

Since reaching the 7.45 high, Wave C-gray is progressing lower as a five-wave sequence from wave ((i))-navy to wave ((v))-navy. The movement is likely to continue downward, targeting the 6.16 low. However, price must remain below 7.01 to maintain this outlook. Breaking above 7.01 would be the first indication of wave ((3))-navy potentially unfolding.

Invalidation Point: 7.01

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

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

See Previous: WOODSIDE ENERGY GROUP LTD - WDS 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

SANTOS-LIMITED-4h-As...


Conclusion

This analysis delivers an in-depth perspective on ASX: SANTOS LIMITED - STO's Elliott Wave trends. By outlining critical price points as validation and invalidation signals, we enhance confidence in our wave count forecast. Our objective is to empower readers with actionable insights into current market dynamics, helping them navigate opportunities with clarity and precision.

Related

Unlocking ASX Trading Success: RESMED INC - RMD Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: RESMED INC - RMD Stock Analysis & Elliott Wave Technical Forecast

This detailed analysis of ASX-listed ResMed Inc (RMD) stock offers insights into current market tren...

Read More >
Master the Market: Elliott Wave Analysis for SP500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200

Master the Market: Elliott Wave Analysis for SP500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200

Stock Market Indices Overview: S&P 500, SPY, NASDAQ 100, QQQ, RUSSELL 2000, DAX 40, FTSE 100, ASX 20...

Read More >
British Pound/ Australian Dollar (GBPAUD) Forex Elliott Wave Technical Analysis: It covers both daily and 4-hour chart forecasts

British Pound/ Australian Dollar (GBPAUD) Forex Elliott Wave Technical Analysis: It covers both daily and 4-hour chart forecasts

This article provides a comprehensive Elliott Wave analysis of the GBPAUD currency pair. It covers b...

Read More >
Stay Informed on Gold XAUUSD market behavior and investment opportunities with our expert Commodity Elliott Wave Technical Analysis

Stay Informed on Gold XAUUSD market behavior and investment opportunities with our expert Commodity Elliott Wave Technical Analysis

Explore the comprehensive Gold Elliott Wave Analysis with insights into the current wave 4 structure...

Read More >
Understand How the Elliott Wave Structure is Shaping Dogecoin's Future Movements: DOGEUSD Technical Analysis

Understand How the Elliott Wave Structure is Shaping Dogecoin's Future Movements: DOGEUSD Technical Analysis

This article provides a comprehensive Elliott Wave analysis for Dogecoin (DOGEUSD), including a deta...

Read More >
WTI Crudeoil Commodity Elliott Wave Technical Analysis: Price Prediction and Market Trends Shaping Crude Oil Trading

WTI Crudeoil Commodity Elliott Wave Technical Analysis: Price Prediction and Market Trends Shaping Crude Oil Trading

Stay informed with our WTI crude oil Elliott Wave analysis and technical price forecast. Understand ...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

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

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

Gain a competive edge with expert insights in to:

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

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • 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