12Feb

ASX CBA Elliott Wave Analysis: Commonwealth Bank Stock Forecast, Technical Trends & Investment Strategy for Australian Market

ASX: COMMONWEALTH BANK OF AUSTRALIA - CBA Elliott Wave Technical Analysis

Greetings,

Our updated Elliott Wave analysis focuses on the Australian Stock Exchange (ASX), with a deep dive into COMMONWEALTH BANK OF AUSTRALIA (CBA).

We anticipate continued bullish momentum in ASX:CBA, with Wave Three currently in progress. This forecast outlines target levels, key price points, and invalidation zones to assess when this view remains valid.


ASX: COMMONWEALTH BANK OF AUSTRALIA - CBA Elliott Wave Technical Analysis (1D Chart - Semilog Scale)

Function:

Major Trend: Minor degree (grey)

Mode: Motive

Structure: Impulse

Position: Wave ((iii)) - navy of Wave 5 - grey

Details:

  • Wave 5 (grey) is extending, with subwaves ((i)), ((ii)) (navy) unfolding.
  • Since the low at 151.00, wave ((iii)) (navy) is gaining momentum, confirming a short-term bullish outlook.
  • Next Target: 200.00
  • Invalidation Level: 151.00

CBA-1d-asx-chart-120...


ASX: COMMONWEALTH BANK OF AUSTRALIA - CBA Elliott Wave Technical Analysis (4-Hour Chart)

Function:

Major Trend: Minor degree (grey)

Mode: Motive

Structure: Impulse

Position: Wave (iii) - orange of Wave ((iii)) - navy of Wave 5 - grey

Details:

  • Within wave ((iii)) (navy), we confirm subwaves (i), (ii) (orange) have completed.
  • Wave (iii) (orange) is now gaining strength, pushing toward higher price levels.
  • Next Target Levels: 173.98 and potentially 180.00
  • Key Invalidation Level: 156.17

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

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

See Previous: SONIC HEALTHCARE LIMITED – SHL 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

CBA-4h-asx-chart-120...


Conclusion:

This Elliott Wave analysis of ASX: COMMONWEALTH BANK OF AUSTRALIA (CBA) provides key insights into current market trends, helping traders optimize their investment strategies.

By identifying critical price levels that confirm or invalidate the Elliott Wave count, this analysis enhances forecast reliability. Our goal is to deliver a precise, professional, and data-driven outlook on the ASX stock market trends.

Related

U.S.Dollar/Swiss Franc (USD/CHF) Elliott Wave Technical Analysis Trading Lounge: In-Depth Technical Insights

U.S.Dollar/Swiss Franc (USD/CHF) Elliott Wave Technical Analysis Trading Lounge: In-Depth Technical Insights

Our USD/CHF Elliott Wave Analysis provides traders with valuable insights into the current market dy...

Read More >
Silver Price Forecast: Elliott Wave Analysis Predicts Strong Wave 3 Breakout After Completing Wave 2 Correction Above $28

Silver Price Forecast: Elliott Wave Analysis Predicts Strong Wave 3 Breakout After Completing Wave 2 Correction Above $28

Silver remains in a bullish uptrend, currently correcting before an expected wave 3 breakout above 2...

Read More >
Visa Inc. 2025 U.S. Stocks Forecast - NYSE: V Elliott Wave Technical Analysis Suggests Strong Bullish Trend in Wave {iii}

Visa Inc. 2025 U.S. Stocks Forecast - NYSE: V Elliott Wave Technical Analysis Suggests Strong Bullish Trend in Wave {iii}

Visa Inc. (NYSE: V) shows strong bullish momentum in 2025 based on Elliott Wave analysis, suggesting...

Read More >
Meta Platforms Inc.(META:NASDAQ) Elliott Wave Technical Analysis 26 October 23

Meta Platforms Inc.(META:NASDAQ) Elliott Wave Technical Analysis 26 October 23

Meta Platforms Inc.(META:NASDAQ) Elliott Wave Technical Analysis 26 October 23, Stock Analysis for t...

Read More >
S&P 500 ELLIOTT WAVE ANALYSIS, 4 NOV. 2021

S&P 500 ELLIOTT WAVE ANALYSIS, 4 NOV. 2021

SP500 NASDAQ 100 Russell 2000 Technical Analysis Elliott Wave Forecast & Trading. S&P 500: Bullish t...

Read More >
S&P 500 Elliott Wave Technical Analysis: Insights on Bullish Trends, Wave Progressions, Risk Management, and Trading Strategies

S&P 500 Elliott Wave Technical Analysis: Insights on Bullish Trends, Wave Progressions, Risk Management, and Trading Strategies

S&P 500 Elliott Wave analysis for both daily and weekly charts highlighting bullish trends and impul...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • 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