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

Bajaj Finance Elliott Wave Analysis - Stock Forecast, Trading Levels, Price Projection, and Market Trend for 2024

Bajaj Finance Elliott Wave Analysis - Stock Forecast, Trading Levels, Price Projection, and Market Trend for 2024

Elliott Wave analysis of Bajaj Finance stock, outlining potential price movements, trend projections...

Read More >
Dogecoin Elliott Wave Technical Analysis: Price Predictions, Trading Strategies, and Market Trends

Dogecoin Elliott Wave Technical Analysis: Price Predictions, Trading Strategies, and Market Trends

Get comprehensive insights into Dogecoin's (DOGEUSD) market trends using Elliott Wave analysis. ...

Read More >
Corn Commodity Elliott Wave Technical Analysis: Long-Term Trends, Bearish Corrective Phases, and 2024 Market Outlook

Corn Commodity Elliott Wave Technical Analysis: Long-Term Trends, Bearish Corrective Phases, and 2024 Market Outlook

This article provides a comprehensive Elliott Wave analysis of corn prices, focusing on long-term be...

Read More >
Intricacies of market movements: New Zealand Dollar/U.S.Dollar (NZDUSD) Elliott Wave Technical Analysis

Intricacies of market movements: New Zealand Dollar/U.S.Dollar (NZDUSD) Elliott Wave Technical Analysis

Unlock insights into the NZDUSD currency pair with our expert Elliott Wave analysis. Our detailed br...

Read More >
Elliott Wave Analysis: Long Trades,  S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200.

Elliott Wave Analysis: Long Trades, S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200.

Elliott Wave Analysis points towards an upward movement in major indices like the S&P 500, NASDAQ 10...

Read More >
QCOM Elliott Wave Analysis: Qualcomm Stock Forecast, Bullish Trading Setup, and Investment Outlook Using Daily and 1H Charts

QCOM Elliott Wave Analysis: Qualcomm Stock Forecast, Bullish Trading Setup, and Investment Outlook Using Daily and 1H Charts

Get a full breakdown of QUALCOMM Inc. (QCOM) using Elliott Wave analysis. Discover the bullish trend...

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