ASX: Aristocrat Leisure Limited (ALL) Elliott Wave Technical Analysis
Greetings! Today's Elliott Wave analysis updates the Australian Stock Exchange (ASX) Aristocrat Leisure Limited – ALL. Based on our insights, ASX:ALL is nearing the completion of a Triangle formation, signaling a potential upward movement in the short term.
ASX: Aristocrat Leisure Limited - ALL 1D Chart (Semilog Scale) Analysis
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave (v)-Orange of Wave ((v))-Navy
Details:
- Wave ((v))-Navy is projected to push higher, potentially reaching the upper boundary of the channel.
- The price must stay above 65.92 to maintain this bullish perspective.
- If the price dips below 65.92, it would suggest that Wave 3-Grey has concluded, and Wave 4-Grey is unfolding.
Key Invalidation Point: 65.92
ASX: Aristocrat Leisure Limited - ALL 4-Hour Chart Analysis
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave ((e))-Navy of Wave IV-Grey
Details:
- Wave III-Grey has concluded, and Wave IV-Grey is forming as a Triangle labeled ((a))((b))((c))((d))((e))-Navy.
- The Triangle is likely nearing its completion, suggesting a short-term upward advance with Wave V-Grey.
Key Invalidation Point: 65.92
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis provides a structured forecast of trends for ASX: Aristocrat Leisure Limited (ALL). By identifying specific price levels as validation or invalidation points, we aim to increase confidence in our perspective and help readers capitalize on actionable insights. Our analysis incorporates both contextual and short-term market trends, delivering a professional and objective outlook.