10Jan

ASX Northern Star Resources Ltd (NST) Elliott Wave Technical Analysis: Stock Forecast and Key Price Targets for Bullish Trends

Introduction to Elliott Wave Analysis for ASX: Northern Star Resources Ltd – NST 

Welcome to today’s Elliott Wave analysis of Northern Star Resources Ltd (ASX:NST). Our focus is to provide a detailed look into the bullish trend emerging for ASX:NST and guide traders on effective strategies to capitalize on this upward momentum.


ASX: Northern Star Resources Ltd – NST 1D Chart Analysis (Semilog Scale)

Major Trend: Intermediate Degree (Orange)

  • Mode: Motive
  • Structure: Impulse
  • Position: Wave 3-grey of Wave (3)-orange

Analysis Details:

  • The price action confirms that Wave 2-grey concluded as a Double Zigzag, labeled as ((w))((x))((y))-navy, bottoming at 15.06.
  • The subsequent upward move signals the progression of Wave 3-grey, targeting the next milestone at 20.00.

Key Levels:

  • Invalidation Point: 15.06

NST-1d-asx-chart-100...


ASX: Northern Star Resources Ltd – NST 4-Hour Chart Analysis

Major Trend: Minute Degree (Navy)

  • Mode: Motive
  • Structure: Impulse
  • Position: Wave ((i))-navy of Wave 3-grey

Analysis Details:

  • A closer look at Wave 3-grey indicates that Wave ((i))-navy is nearing completion.
  • After this, a pullback in Wave ((ii))-navy is expected.
  • The optimal long trade setup arises when the price breaks above the endpoint of Wave (b)-orange within Wave ((ii))-navy. This ensures a safe entry point for bullish momentum.

Key Levels:

  • Invalidation Point: 15.06

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

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

See Previous: COCHLEAR LIMITED - COH 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

NST-4h-asx-chart-100...


Conclusion

This Elliott Wave analysis highlights the upward potential of Northern Star Resources Ltd (ASX:NST). By providing precise validation and invalidation levels, we aim to strengthen traders’ confidence in the current wave structure and trend forecast. Following our methodology can help you align your trading strategy with these critical market insights.

For long opportunities, the safest entry point lies above the key price level of Wave (b)-orange. By leveraging this strategic approach, traders can better position themselves to benefit from the bullish trend.

Related

Potential Future of WTI and Oil Price Trends Based on Elliott Wave Analysis: Crude Oil Commodity Market Outlook

Potential Future of WTI and Oil Price Trends Based on Elliott Wave Analysis: Crude Oil Commodity Market Outlook

This article provides an in-depth Elliott wave analysis of WTI crude oil, highlighting key price mov...

Read More >
Euro/U.S.Dollar(EURUSD) Day Chart Elliott Wave Technical Analysis 10 November 23

Euro/U.S.Dollar(EURUSD) Day Chart Elliott Wave Technical Analysis 10 November 23

Euro/U.S.Dollar(EURUSD) Day Chart Elliott Wave Technical Analysis 10 November 23 suggests a Counter ...

Read More >
Pepsico Inc.(PEP:NASDAQ) Elliott Wave Technical Analysis 23 October 23

Pepsico Inc.(PEP:NASDAQ) Elliott Wave Technical Analysis 23 October 23

Pepsico Inc.(PEP: NASDAQ) Elliott Wave Technical Analysis charts for 23 October 23

Read More >
AAVEUSD Elliott Wave Analysis & Price Prediction: Key Support Levels, Trading Strategies, and Market Trends

AAVEUSD Elliott Wave Analysis & Price Prediction: Key Support Levels, Trading Strategies, and Market Trends

AAVE Elliott Wave forecast, highlighting key price levels, trading strategies, and potential market ...

Read More >
IBEX 35 Market Analysis: IBEX 35 (Spain) Index Elliott Wave Technical Analysis with Daily and Weekly Charts

IBEX 35 Market Analysis: IBEX 35 (Spain) Index Elliott Wave Technical Analysis with Daily and Weekly Charts

The IBEX 35 Elliott Wave analysis provides a detailed look at the market's current trends on bot...

Read More >
EURUSD Elliott Wave Analysis: Expert Forex Forecast, Trading Strategies, and Market Trends for Informed Decisions

EURUSD Elliott Wave Analysis: Expert Forex Forecast, Trading Strategies, and Market Trends for Informed Decisions

EURUSD Elliott Wave analysis to stay ahead in the forex market. Learn about key chart patterns, mar...

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