ASX: ASX LIMITED – Elliott Wave Technical Analysis | TradingLounge
Elliott Wave Forecast for ASX LIMITED (ASX)
Welcome to today's Elliott Wave analysis for the Australian Stock Exchange (ASX LIMITED – ASX). Our updated technical outlook highlights strong bullish momentum, particularly in the third wave of the third wave, which indicates significant upside potential for ASX LIMITED. Below, we provide key trend insights and confirmation levels to monitor potential trend shifts.
ASX: ASX LIMITED – Daily (1D) Chart Analysis (Semilog Scale)
Trend Type: Major Trend (Minor Degree, Grey)
Wave Mode: Motive
Wave Structure: Impulse
Current Position: Wave ((iii)) - Navy of Wave 3 - Grey
Wave Analysis:
The third wave of the third wave continues to unfold as an Extended Wave, reinforcing a strong bullish trend. With Wave ((iii)) - Navy progressing higher, this movement suggests that ASX LIMITED is experiencing an aggressive upward trend, with further growth potential in sight.
ASX: ASX LIMITED – 4-Hour Chart Analysis
Trend Type: Major Trend (Minor Degree, Grey)
Wave Mode: Motive
Wave Structure: Impulse
Current Position: Wave (v) - Orange of Wave ((iii)) - Navy
Wave Analysis:
On the 4-hour chart, the wave pattern has become clearer. It appears that Wave (iv) - Orange has completed, and Wave (v) - Orange is now pushing higher.
- Nearest Bullish Target: 68.99
- Key Support Level for Trend Continuation: 65.06
- Invalidation Level: 65.05 (A drop below this level could alter the current bullish outlook.)
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion: Market Trend and Trading Outlook
Our Elliott Wave analysis for ASX LIMITED – ASX provides an in-depth market trend perspective with precise validation and invalidation levels to guide traders and investors. By closely monitoring these critical price points, we strengthen trade confidence and enhance market insights.
For professional traders and investors, our structured Elliott Wave forecast delivers data-driven market predictions, helping optimize investment decisions in the ASX LIMITED stock. Stay tuned for further updates on trend developments and wave progressions.