ASX LIMITED – ASX Elliott Wave Technical Analysis
Greetings,
This Elliott Wave analysis offers an updated outlook on ASX LIMITED (ASX). Based on our assessment, ASX shares may have completed a corrective phase and are now transitioning into an impulsive wave, signaling potential bullish momentum ahead.
ASX LIMITED – ASX 1D Chart (Semilog Scale) Analysis
Function: Major Trend (Intermediate Degree, Orange)
Mode: Motive
Structure: Impulse
Position: Wave 3 - Grey of Wave (3) - Orange
Details:
- Wave (2) - Orange appears to have concluded, setting the stage for Wave (3) - Orange, which is unfolding as an extended wave.
- Wave 3 - Grey is advancing higher, suggesting a target price near $80.00.
✅ Key Level to Watch: $80.00
❌ Invalidation Point: $62.03
ASX LIMITED – ASX Elliott Wave Technical Analysis (4-Hour Chart)
ASX LIMITED – ASX 4-Hour Chart Analysis
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave ((i)) - Navy of Wave 3 - Grey
Details:
- From the recent low of $62.03, Wave 3 - Grey is gaining strength, moving upward.
- Currently, Wave ((i)) - Navy is nearing completion, with Wave ((ii)) - Navy potentially dipping slightly before the next Wave ((iii)) - Navy continues the uptrend.
✅ Key Level to Watch: Wave ((iii)) - Navy Breakout
❌ Invalidation Point: $62.03
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
This Elliott Wave forecast for ASX LIMITED (ASX) highlights key trend formations and price targets to aid traders in their decision-making process. With structured technical analysis, we provide insights into potential market movements, trend validation points, and invalidation levels. By leveraging this information, traders can refine their strategies and optimize their market positioning based on objective analysis.