ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG Elliott Wave Technical Analysis
Greetings,
Today’s Elliott Wave update focuses on the Australian Stock Exchange (ASX) stock, INSURANCE AUSTRALIA GROUP LIMITED (ASX:IAG).
Our latest technical analysis suggests that ASX:IAG is completing a B-grey corrective wave and preparing for another downward move. Currently, there are no confirmed bullish signals, making long trade setups high-risk at this stage.
ASX: IAG Elliott Wave Analysis (1D Chart – Semilog Scale)
ASX: INSURANCE AUSTRALIA GROUP LIMITED Day Chart analysis
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave c)) - navy of Wave B - grey
Details: Wave 3) - orange has completed its five-wave impulsive structure.
- Wave 4) - orange is unfolding lower as a Zigzag correction, labeled A, B, and C - grey.
- Wave A - grey has finished, and Wave B - grey is advancing higher in an Expanded Flat structure.
- Wave c)) - navy of Wave B - grey is expected to target the 8.25–8.46 price zone.
Invalidation Point: End of Wave b)) - navy
ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG 4-Hour Chart Analysis
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave c)) - navy of Wave B - grey
Details:
- From the 7.420 price level, Wave B - grey is forming as an Expanded Flat, reflecting sideways movement with low momentum.
- Wave b)) - navy shows greater complexity compared to wave a)) - navy, while wave c)) - navy is displaying stronger bullish momentum, characteristic of Flat pattern formations.
- Price action is anticipated to climb toward the 8.25–8.46 range before the completion of Wave B - grey and the initiation of a Wave C - grey decline.
Invalidation Point: 7.100
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis on ASX: INSURANCE AUSTRALIA GROUP LIMITED (ASX:IAG) highlights critical price zones and key invalidation points, providing a structured outlook for traders and investors. Monitoring these levels enhances confidence in assessing the next market moves.
We are committed to offering a professional, objective, and strategic perspective in our technical analysis.