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

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Today's Elliott Wave analysis provides an updated perspective on INSURANCE AUSTRALIA GROUP LIMITED (ASX: IAG). Based on current market trends, the stock remains in a corrective wave, indicating further downside movement before a potential bullish reversal.

ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) Elliott Wave Technical Analysis – 1D Chart Analysis (Semilog Scale)

Function: Major Trend (Primary Degree, Navy)

Mode: Motive

Structure: Impulse

Position: Wave (4) – Orange

Details:

• Wave (3) – Orange has completed a five-wave sequence (labeled 1-Grey to 5-Grey).
• Currently, Wave (4) – Orange is forming and likely pushing lower, with a target of 6.982.
• A long-term bullish move is unlikely with Wave (5) – Orange at this stage.
• The first ABC Zigzag leg within Wave (4) – Orange appears to have formed.
• Invalidation Point: 9.210

ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) Elliott Wave Technical Analysis – 4H Chart

ASX: IAG – 4-Hour Chart Analysis

Function: Major Trend (Intermediate Degree, Orange)

Mode: Motive

Structure: Impulse

Position: Wave B – Grey of Wave (4) – Orange

Details:

• The ((4)) – Navy Wave continues to develop downward.
• The current structure follows an (A)(B)(C) – Orange formation, where:
  • Wave (A) – Orange is nearing completion.
  • Wave (C) – Orange will likely push lower after Wave (A) completes.
• Invalidation Point: 9.210

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

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Conclusion

This Elliott Wave analysis provides a comprehensive outlook on ASX: IAG, helping traders navigate market movements with greater accuracy. By identifying key support and resistance levels, traders can make informed decisions based on wave structure insights.

The provided validation and invalidation levels enhance confidence in the technical analysis, ensuring a data-driven approach to market forecasting. By integrating Elliott Wave theory with technical indicators, we aim to offer the most objective and professional perspective on market trends, allowing traders to capitalize on opportunities effectively.