ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) Elliott Wave Technical Analysis – TradingLounge
Greetings,
Our Elliott Wave analysis today focuses on INSURANCE AUSTRALIA GROUP LIMITED (IAG) on the Australian Stock Exchange (ASX).
Currently, ASX:IAG shares remain in a corrective wave pattern and may continue moving lower before a potential bullish reversal.
ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) Elliott Wave Technical Analysis – 1D Chart (Semilog Scale)
Key Analysis
Function: Major trend (Primary degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (4) - orange
Details:
✅ Wave (3) - orange recently completed as a five-wave sequence, labeled 1-grey to 5-grey.
✅ Wave (4) - orange is likely pushing lower, with 6.982 as the next key target.
✅ A long-term bullish Wave (5) - orange remains uncertain at this stage. Instead, the market may have completed the first phase of an ABC Zigzag within Wave (4) - orange.
❌ Invalidation point: 9.210
ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) Elliott Wave Technical Analysis – 4-Hour Chart
Key Analysis
Function: Major trend (Intermediate degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave A - grey of Wave (4) - orange
Details:
✅ Wave (4) - orange continues unfolding lower, indicating further downside.
✅ The pattern resembles an A-B-C correction (grey), with Wave A - grey nearly complete.
✅ Further decline is expected with Wave C - grey extending lower.
❌ Invalidation point: 9.210
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis for ASX: INSURANCE AUSTRALIA GROUP LIMITED (IAG) provides key market insights for traders and investors.
- By identifying price validation and invalidation levels, we improve confidence in the wave count and help traders make data-driven decisions.
- The current trend suggests further corrective movement before any potential bullish reversal.
- Our technical analysis remains objective and data-backed, offering a professional perspective on market trends.