ASX: LIGHT & WONDER INC. – LNW Elliott Wave Technical Analysis | TradingLounge

Greetings, today's Elliott Wave analysis focuses on ASX: LIGHT & WONDER INC. (LNW), providing an updated perspective on its market movements. Our observations suggest that ASX:LNW has not yet initiated a significant upward move in wave three; instead, wave two remains active, indicating potential for further decline. This technical analysis helps identify the dominant market trend, offers insights into whether it's a favorable time to invest in LNW, and outlines critical price levels for trend reversals.

ASX: LIGHT & WONDER INC. – LNW TradingLounge 1D Chart Analysis (Semilog Scale)

Function: Major Trend (Intermediate Degree, Orange)

Mode: Motive

Structure: Impulse

Position: Wave 2-grey of Wave (3)-orange

Key Insights:

• The ongoing wave 2-grey is not yet complete, suggesting further downside with wave ((c))-navy still in play.
• A break above 158.98 would necessitate a reassessment of the wave count, potentially signaling the start of a bullish phase.
• Traders should monitor these levels closely to determine market direction.

Critical Levels:

• Invalidation Point: 114.35
• Confirmation Point: 158.98

ASX: LIGHT & WONDER INC. – LNW TradingLounge 4-Hour Chart Analysis

Function: Major Trend (Intermediate Degree, Orange)

Mode: Motive

Structure: Impulse

Position: Wave ((c))-navy of Wave 2-grey

Key Insights:

• The 2-grey wave continues to show potential for further decline.
• In an alternative scenario (ALT), wave ((b)) may still be forming, suggesting a possible mild advance within the (y)-orange wave.
• Current market conditions do not yet support the development of the 3-grey wave, reinforcing expectations of continued downside movement.

Critical Levels:

• Invalidation Point: 158.98

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

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See Previous: ORIGIN ENERGY LIMITED – ORG Elliott Wave Technical Analysis

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Conclusion

Our Elliott Wave forecast for ASX: LIGHT & WONDER INC. (LNW) provides a comprehensive outlook on current market conditions, helping traders and investors make informed decisions. The analysis identifies key validation and invalidation points, offering greater confidence in wave projections. By utilizing these insights, market participants can better position themselves within the evolving trend.