10May

ASX IAG Elliott Wave Forecast Reveals Key Turning Points and Price Targets for Smarter Trading Decisions in Australian Stock Market

ASX: Insurance Australia Group Limited (IAG) - TradingLounge Day Chart

Daily Technical Overview – IAG Stock Forecast Based on Elliott Wave Analysis

IAG Elliott Wave Technical Analysis

Hello Traders,

Today’s update focuses on ASX: Insurance Australia Group Limited (IAG) using Elliott Wave principles to forecast market direction.

Our latest analysis suggests ASX:IAG is approaching the final stage of wave B-grey, implying a potential downward shift. The current chart structure does not indicate a bullish reversal, meaning long trades could carry significant risk.

Technical Breakdown – Daily Chart (Semilog Scale)

Function: Major Trend (Minor degree, grey)

Wave Mode: Motive

Structure: Impulse

Position: Wave c)) - navy within Wave B - grey

Insights:

  • Wave 3) - orange has finished forming a five-wave structure.
  • Wave 4) - orange is unfolding as a Zigzag pattern (A-B-C in grey).
  • Wave A - grey has concluded, while wave B - grey is evolving as an Expanded Flat.
  • Wave c)) - navy is targeting the 8.772 price zone.

Key Invalidation Level: Wave b)) - navy must not fall below 7.100 for this count to hold.

IAG-ASX-Stock-Day-ch...


ASX: Insurance Australia Group Limited (IAG) – TradingLounge (4-Hour Chart)

ASX: Insurance Australia Group Limited – IAG Elliott Wave Technical Analysis

This 4-hour chart offers a closer examination of the IAG stock's Elliott Wave pattern, showing how wave B - grey continues forming an Expanded Flat from the 7.420 level.

Technical Breakdown – 4-Hour Chart

Function: Major Trend (Minor degree, grey)

Wave Mode: Motive

Structure: Impulse

Position: Wave c)) - navy within Wave B - grey

Insights:

  • The sequence between wave a)) - navy and wave b)) - navy shows increasing complexity.
  • Wave c)) - navy is gaining momentum, indicating strength versus earlier sub-waves.
  • Target projection for wave c)) - navy is near 8.772, after which wave B - grey is likely to end and wave C - grey may begin its downward move.

Critical Invalidation Level: 7.100 remains a key threshold.

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

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here 

See Previous: BLOCK, INC - XYZ (SQ2) Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

IAG-ASX-Stock-4H-cha...


Conclusion
This Elliott Wave analysis for ASX: Insurance Australia Group Limited (IAG) provides both short-term insights and broader market perspective. By identifying significant wave positions and critical price levels, this forecast enhances traders' understanding of IAG’s market behavior using Elliott Wave theory. Always consider these points in line with market context and risk management.

Related

Russell 2000 Elliott Wave Analysis Reveals Bullish Momentum and Impulsive Structure on Daily and Weekly Stock Charts

Russell 2000 Elliott Wave Analysis Reveals Bullish Momentum and Impulsive Structure on Daily and Weekly Stock Charts

The Russell 2000 index is showing bullish momentum based on Elliott Wave principles, with impulsive ...

Read More >
Explore GOOGL Elliott Wave Analysis, Alphabet Inc Stock forecast and Market movements using Expert Technical Analysis

Explore GOOGL Elliott Wave Analysis, Alphabet Inc Stock forecast and Market movements using Expert Technical Analysis

Explore GOOGL stock Elliott Wave patterns and Alphabet Inc stock forecast using expert technical ana...

Read More >
Effective Elliott Wave analysis of REA Group on the ASX Market with Offers Detailed Stock Predictions, and Trading Strategies

Effective Elliott Wave analysis of REA Group on the ASX Market with Offers Detailed Stock Predictions, and Trading Strategies

Delve into a comprehensive Elliott Wave analysis of REA Group on the ASX. This article offers detail...

Read More >
Introduction to Cryptocurrencies

Introduction to Cryptocurrencies

Introduction to Cryptocurrencies Introduction Cryptocurrencies have emerged as a groundbreaking in...

Read More >
Unveiling Costco Wholesale Corp.,(COST) Elliott Wave Analysis for Potential Trading Opportunities

Unveiling Costco Wholesale Corp.,(COST) Elliott Wave Analysis for Potential Trading Opportunities

Join us at the COST Elliott Wave Trading Lounge for our in-depth analysis of Costco Wholesale Corp. ...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on