12Dec

ASX LIMITED Analysis: Unlock Elliott Wave Insights, Stock Forecasts, Key Levels, and Smarter Trading Strategies for Market Success

ASX: ASX LIMITED – Elliott Wave Technical Analysis TradingLounge

Greetings! This Elliott Wave analysis provides an updated perspective on the Australian Stock Exchange (ASX) ASX LIMITED. Our analysis suggests that ASX LIMITED may experience further downward movement in wave ((ii))-navy before wave ((iii))-navy potentially ascends.


ASX: ASX LIMITED – ASX 1D Chart (Semilog Scale) Analysis

Function: Major (Minor degree, gray)

Mode: Motive

Structure: Impulse

Position: Wave ((ii))-navy of Wave 3-gray

Details:

  • Wave ((ii))-navy appears to be pushing lower, potentially targeting the 62.87 level.
  • After reaching support at lower levels, wave ((iii))-navy is likely to emerge, signaling a bullish opportunity.
  • Traders could consider going long once the price tests and confirms support around the Medium Level of 65.00.

Invalidation Point: 56.54

ASX-LIMITED-1d-asx-c...


ASX: ASX LIMITED – ASX 4-Hour Chart Analysis

Function: Major trend (Minor degree, gray)

Mode: Motive

Structure: Impulse

Position: Wave ((ii))-navy of Wave 3-gray

Details:

  • Wave ((i))-navy has completed a five-wave pattern, indicating the initiation of wave ((ii))-navy.
  • After the completion of the diagonal, wave ((ii))-navy is expected to decline significantly, with the next target estimated at 62.87.
  • This decline is consistent with Elliott Wave principles, where corrections often follow impulse waves in diagonal structures.

Invalidation Point: 56.54

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

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

See Previous: COMPUTERSHARE LIMITED. - CPU 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

ASX-LIMITED-4h-asx-c...


Conclusion

This Elliott Wave analysis delivers actionable insights into ASX LIMITED's potential price movements. The current forecast highlights key levels for validation and invalidation, enhancing the accuracy of the wave count. By strategically combining these technical elements, traders can identify opportunities to capitalize on the market's momentum effectively.

Related

Understand How AXIS Bank's Stock is Positioned with Projections Indicating Potential Moves Based on Elliott Wave Theory

Understand How AXIS Bank's Stock is Positioned with Projections Indicating Potential Moves Based on Elliott Wave Theory

This article provides an in-depth Elliott Wave analysis for AXIS Bank, examining current trends, pri...

Read More >
NASDAQ Stock Market Update: Key Insights on AAPL, TSLA, AMZN, and More as Earnings Week Approaches

NASDAQ Stock Market Update: Key Insights on AAPL, TSLA, AMZN, and More as Earnings Week Approaches

The text provides an Elliott Wave analysis of the NASDAQ stock market, focusing on major indices lik...

Read More >
ASX SHL Stock Analysis: Sonic Healthcare Limited Elliott Wave Technical Analysis, Price Target Insights & Price Target

ASX SHL Stock Analysis: Sonic Healthcare Limited Elliott Wave Technical Analysis, Price Target Insights & Price Target

This report provides an in-depth Elliott Wave analysis of ASX: SHL (Sonic Healthcare Limited), inclu...

Read More >
GX Uranium ETF Commodity Elliott Wave Technical Analysis Reveals that Uranium Market is in a Bullish Phase

GX Uranium ETF Commodity Elliott Wave Technical Analysis Reveals that Uranium Market is in a Bullish Phase

The Global X Uranium ETF (GX URA) offers a diversified portfolio of companies involved in uranium mi...

Read More >
U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis 29 January 24

U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis 29 January 24

The USDJPY Elliott Wave Analysis dated 29 January 24, provides a comprehensive examination of the U....

Read More >
Achieving ASX Trading Success: AMCOR PLC (AMC) Stock Insights and Elliott Wave Technical Analysis

Achieving ASX Trading Success: AMCOR PLC (AMC) Stock Insights and Elliott Wave Technical Analysis

Get an in-depth analysis of AMCOR PLC (AMC) with Elliott Wave insights, ASX stock forecasts, and tra...

Read More >
Understand How AXIS Bank's Stock is Positioned with Projections Indicating Potential Moves Based on Elliott Wave Theory

Understand How AXIS Bank's Stock is Positioned with Projections Indicating Potential Moves Based on Elliott Wave Theory

This article provides an in-depth Elliott Wave analysis for AXIS Bank, examining current trends, pri...

Read More >
NASDAQ Stock Market Update: Key Insights on AAPL, TSLA, AMZN, and More as Earnings Week Approaches

NASDAQ Stock Market Update: Key Insights on AAPL, TSLA, AMZN, and More as Earnings Week Approaches

The text provides an Elliott Wave analysis of the NASDAQ stock market, focusing on major indices lik...

Read More >
ASX SHL Stock Analysis: Sonic Healthcare Limited Elliott Wave Technical Analysis, Price Target Insights & Price Target

ASX SHL Stock Analysis: Sonic Healthcare Limited Elliott Wave Technical Analysis, Price Target Insights & Price Target

This report provides an in-depth Elliott Wave analysis of ASX: SHL (Sonic Healthcare Limited), inclu...

Read More >
GX Uranium ETF Commodity Elliott Wave Technical Analysis Reveals that Uranium Market is in a Bullish Phase

GX Uranium ETF Commodity Elliott Wave Technical Analysis Reveals that Uranium Market is in a Bullish Phase

The Global X Uranium ETF (GX URA) offers a diversified portfolio of companies involved in uranium mi...

Read More >
U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis 29 January 24

U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis 29 January 24

The USDJPY Elliott Wave Analysis dated 29 January 24, provides a comprehensive examination of the U....

Read More >
Achieving ASX Trading Success: AMCOR PLC (AMC) Stock Insights and Elliott Wave Technical Analysis

Achieving ASX Trading Success: AMCOR PLC (AMC) Stock Insights and Elliott Wave Technical Analysis

Get an in-depth analysis of AMCOR PLC (AMC) with Elliott Wave insights, ASX stock forecasts, and tra...

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