ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) Elliott Wave Technical Analysis – TradingLounge

Overview​​​​​​, Our latest Elliott Wave analysis for INSURANCE AUSTRALIA GROUP LIMITED (ASX: IAG) provides an updated perspective on market movements, emphasizing its corrective phase.

We identify that ASX: IAG shares continue within a corrective wave, signaling the need for further downside before a potential bullish reversal.

ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) Elliott Wave Analysis

INSURANCE AUSTRALIA GROUP LIMITED 1D Chart (Semilog Scale) Analysis

Function: Major Trend (Primary degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave ((4)) - navy

Details:

• Wave ((3)) - navy concluded as a five-wave impulse, labeled from (1) - orange to (5) - orange.
• Wave ((4)) - navy is in progress, likely pushing lower toward 6.78 USD before stabilizing.
• A bullish breakout for Wave (5) - orange is not anticipated. Instead, market structure suggests that Wave ((4)) - navy has started an ABC Zigzag correction.

Invalidation Point: The end of Wave ((3)) - navy.

ASX: INSURANCE AUSTRALIA GROUP LIMITED – TradingLounge (4-Hour Chart)

IAG Elliott Wave Technical Analysis

ASX: IAG 4-Hour Chart Analysis

Function: Major Trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (B) - orange of Wave ((4)) - navy

Details:

• Wave ((4)) - navy remains in a downward corrective phase.
• The formation exhibits an (A)-(B)-(C) - orange pattern.
• Wave (B) - orange is nearing completion, with expectations for a downward move in Wave (C) - orange.

Invalidation Point: 15.06 USD

Key Point: The end of Wave ((3)) - navy serves as a critical reference for this structure.

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

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Conclusion

Our Elliott Wave analysis provides key market insights for ASX: IAG, allowing traders to make informed decisions based on trend confirmation and price validation levels.

Identifying key price levels for validation and invalidation improves forecast accuracy, offering an objective approach to analyzing market trends. By applying Elliott Wave Theory, traders can navigate short-term corrections and anticipate price movement scenarios effectively.