ASX: ORIGIN ENERGY LIMITED – ORG Elliott Wave Technical Analysis
Greetings, today’s Elliott Wave analysis for the Australian Stock Exchange (ASX) focuses on ORIGIN ENERGY LIMITED – ORG. Our insights highlight ASX:ORG moving significantly higher within wave (iii)-orange of wave ((iii))-navy. This technical review addresses whether now is an ideal time to go long or identifies the optimal entry points alongside key visual markers to confirm potential future trends.
ASX: ORIGIN ENERGY LIMITED – ORG 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-orange of Wave ((iii))-navy
Details:
- Wave ((ii))-navy concluded at 9.45, initiating wave ((iii))-navy, which is currently extending higher.
- Wave (iii)-orange, as part of this larger structure, is expected to unfold further upward.
- A more granular view through the 4H chart analysis will provide actionable "go long" setups.
Invalidation Point: 10.25
ASX: ORIGIN ENERGY LIMITED – ORG 4-Hour Chart Analysis
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave i-grey of Wave (iii)-orange
Details:
- Wave iii-grey within wave (iii)-orange is advancing upward.
- Wave i-grey is nearing completion, with a possible three-wave correction (wave ii-grey) to follow.
- Once price forms a bounce and establishes 11.00 as a tested support level, it provides a favorable and safer long position.
Invalidation Point: 10.25
Key Point: Wave b of Wave ii-grey
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our analysis for ASX: ORIGIN ENERGY LIMITED – ORG aims to deliver actionable insights into current and future market trends. By identifying specific price levels for validation and invalidation of our wave count, we enhance confidence in the forecast. These insights, combined with a detailed review of Elliott Wave structures, help traders make informed decisions about capitalizing on upcoming market movements effectively.