13Dec

ASX Commonwealth Bank of Australia (CBA) Elliott Wave Analysis: Wave Structure Insights, Price Predictions, and Informed Trading Strategies Explained

ASX: COMMONWEALTH BANK OF AUSTRALIA (CBA) Elliott Wave Technical Analysis

Welcome to today's Elliott Wave analysis update on the Australian Stock Exchange (ASX) featuring the COMMONWEALTH BANK OF AUSTRALIA (CBA). Based on our observations, ASX:CBA appears poised for an upward move with a ((v))-navy wave in focus.

ASX: COMMONWEALTH BANK OF AUSTRALIA (CBA) 1D Chart (Semilog Scale) Analysis

Function: Major Trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((iv))-navy of Wave 5-grey

Analysis Details:

Wave ((iv))-navy is progressing as a triangle formation nearing completion. Once finalized, Wave ((v))-navy is projected to push higher, targeting a peak near the 165.00 level.

  • Invalidation Point: 154.10

COMMONWEALTH-BANK-OF...


ASX: COMMONWEALTH BANK OF AUSTRALIA (CBA) 4-Hour Chart Analysis

Function: Major Trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave ((iv))-navy

Analysis Details:

Wave ((iii))-navy has concluded, and Wave ((iv))-navy is unfolding as a triangle. The wave exhibits horizontal narrowing and lengthening characteristics, suggesting that additional time may be required before completion. Post-completion, Wave ((v))-navy is expected to extend upward. Price must hold above the invalidation point of 154.10 to maintain this bullish outlook.

  • Invalidation Point: 154.10

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

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

See Previous:  ASX LIMITED – ASX 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

COMMONWEALTH-BANK-OF...


Conclusion

Our Elliott Wave analysis for ASX: COMMONWEALTH BANK OF AUSTRALIA (CBA) highlights the importance of current market trends and offers actionable insights. The analysis identifies key price levels serving as validation or invalidation markers to solidify confidence in our wave count. By leveraging this detailed technical outlook, traders and investors can make more informed decisions to capitalize on potential market movements effectively.

Related

Bitcoin Elliott WaveTechnical Analysis:Bitcoin Price Prediction and Uptrend Trading Insights

Bitcoin Elliott WaveTechnical Analysis:Bitcoin Price Prediction and Uptrend Trading Insights

Explore detailed Bitcoin Elliott Wave analysis and BTCUSD price predictions. Learn about Wave V, bul...

Read More >
The Coca-Cola Company (KO) Stocks Elliott Wave Technical Analysis to make Decisions based on the latest Market Structure

The Coca-Cola Company (KO) Stocks Elliott Wave Technical Analysis to make Decisions based on the latest Market Structure

Discover a detailed Elliott Wave analysis for Coca-Cola (KO) stock, providing insights into potentia...

Read More >
Following DAX Index News: DAX 40 Stocks Elliott Wave Analysis with Daily and Weekly Chart Forecasts, Technical Outlooks

Following DAX Index News: DAX 40 Stocks Elliott Wave Analysis with Daily and Weekly Chart Forecasts, Technical Outlooks

DAX 40 Elliott Wave analysis covers both daily and weekly chart forecasts. It includes technical out...

Read More >
The Coca-Cola Company (KO:NYSE) Elliott Wave Technical Analysis 16 November 23

The Coca-Cola Company (KO:NYSE) Elliott Wave Technical Analysis 16 November 23

The Coca-Cola Company (KO:NYSE) Elliott Wave Technical Analysis 16 November 23 KO Stock Market Analy...

Read More >
Chainlink/U.S. dollar (LINKUSD) Elliott Wave Technical Analysis 26 October 23

Chainlink/U.S. dollar (LINKUSD) Elliott Wave Technical Analysis 26 October 23

Chainlink/U.S. dollar (LINKUSD) Elliott Wave Technical Analysis for 26 October 23, Elliott Wave Anal...

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