SANTOS LIMITED - STO Elliott Wave Analysis (1D Chart) | TradingLounge
SANTOS LIMITED Stock 1D Chart Analysis
STO Elliott Wave Technical Analysis
Function: Major Trend (Minor Degree, Gray)
Mode: Motive
Structure: Impulse
Position: Wave ((3)) - Navy
Details:
- Wave ((2)) - Navy appears to have completed, with wave ((3)) - Navy now moving upward.
- This wave is extended, indicating a potential pullback with wave 2 - Gray before resuming the uptrend.
- High-quality long trade setups may emerge if the price breaks above the wave 1 - Gray endpoint, which serves as a confirmation of the trend.
✅ Invalidation Point: 6.29
✅ Key Level: End of Wave 1 - Gray
SANTOS LIMITED - STO Elliott Wave Technical Analysis (4-Hour Chart) | TradingLounge
Function: Major Trend (Minor Degree, Gray)
Mode: Motive
Structure: Impulse
Position: Wave (ii) - Orange of Wave ((iii)) - Navy
Details:
- Wave 1 - Gray has formed a five-wave structure, while wave 2 - Gray appears to be a zigzag correction, potentially driving prices slightly lower.
- The ideal correction target is around 6.66, after which the price is expected to move higher.
- A break above the end of wave 1 would confirm a bullish trend resumption.
✅ Invalidation Point: 6.29
✅ Key Level: End of Wave 1 - Gray
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis for SANTOS LIMITED - STO provides valuable insights into market trends and trading opportunities. By pinpointing key price levels, we identify validation and invalidation signals, strengthening confidence in market direction. This structured approach helps traders make well-informed trading decisions based on Elliott Wave principles.