01Jul

NORTHERN STAR RESOURCES LTD – NST Elliott Wave Forecast Signals Bearish Trend, Targeting 16.86 with Full Technical Chart Insight

ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis – TradingLounge

Greetings,
This Elliott Wave analysis provides an updated forecast for Northern Star Resources Ltd (ASX:NST), highlighting key bearish signals and potential price movement.


ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Outlook – Daily Chart (1D, Semilog Scale)

Function: Primary trend (Minor degree – grey)

Mode: Motive

Structure: Impulse

Current Position: Wave C) - orange within Wave 4)) - navy

Key Insights:

The ongoing correction in Wave 4)) - navy appears to be evolving as a zigzag (ABC-orange).

Wave A) and Wave B) - orange have completed.

Since the peak at 22.78, the market is now progressing through Wave C) - orange.

Target price: 16.86

No evidence currently suggests a reversal or bullish shift in trend.

Invalidation Level: 23.78

NORTHERN-d-asx-chart...


ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave 4-Hour Chart Analysis

Function: Primary trend (Minor degree – grey)

Mode: Motive

Structure: Impulse

Current Position: Wave C) - orange within Wave 4)) - navy

Key Insights:

No divergence from the 1D analysis.

The downtrend that began post the 22.78 high continues.

Wave C) - orange maintains its target near the 16.86 support area.

Invalidation Level: 22.78

Technical Analyst: Hua (Shane) Cuong, Certified Elliott Wave Analyst – Master Level (CEWA-M).

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See Previous: BHP GROUP LIMITED – BHP Elliott Wave Technical Analysis

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NORTHERN-4h-asx-char...


Conclusion:
The Elliott Wave projection for ASX:NST signals continued downside movement under the current wave count. The analysis pinpoints critical levels to confirm or refute this setup, ensuring a disciplined approach to ASX technical trading. By maintaining a consistent structure in wave evaluation, we aim to support informed decision-making based on objective criteria.

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