ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with RAMSAY HEALTH CARE LIMITED - RHC. Previously in our Top 50 ASX Stocks service, we accurately forecasted a price decline with the (c)-purple wave of Wave ((ii))-green. At this point, we identify a good trading opportunity as an ABC pattern has just emerged, opening with the ((ii)) wave, and we will continue to monitor for a short while longer to await confirmation that the ((iii)) wave is indeed resuming and pushing higher.

ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Wave Technical Analysis  

ASX: RAMSAY HEALTH CARE LIMITED – RHC 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, red)

Mode: Motive

Structure: Impulse

Position: Wave ((ii))-green of Wave 3-red

Details: The short-term outlook suggests a bullish trend since the low of 46.76. Both wave 1-red and wave 2-red have concluded, and now wave 3-red is in progress. Wave ((i)) -green has reached its peak, while wave ((ii))-green is currently retracing, possibly finding support around the 52.20-51.04 range before wave ((iii))-green resumes its upward trajectory. Pushing above 56.67 would reaffirm the bullish outlook with wave ((iii))-green.

Invalidation point: 49.45

RAMSAY-HEALTH-CARE-1...

 


 

ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Wave Technical Analysis

ASX: RAMSAY HEALTH CARE LIMITED – RHC 4-Hour Chart Analysis

Function: Major trend (Minute degree, green)

Mode: Motive

Structure: Impulse

Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green

Details: The short-term outlook suggests that wave ((ii))-green is currently unfolding, subdividing into waves (a)(b)(c)-purple. It appears that wave (c)-purple is nearing its completion, as I have observed a strong upward movement immediately following it, and notably, it has achieved the necessary targets within the channel. Therefore, I will closely monitor this (RHC) chart. Pushing above the 56.67 level would be the initial indication that wave ((iii))-green is underway, targeting even higher levels.

Invalidation point: 49.45

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: RAMSAY HEALTH CARE LIMITED – RHC aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

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

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: COMPUTERSHARE LIMITED

TradingLounge Once Off SPECIAL DEAL: Here > 1 month Get 3 months.

TradingLounge's Free Week Extravaganza!

April 14 – 21: Unlock the Doors to Trading Excellence — Absolutely FREE

RAMSAY-HEALTH-CARE-4...

Related

Eaton Corp. PLC (ETN) Stocks Elliott Wave Technical Analysis: Focusing on its technical patterns through daily and 4-hour charts.

Eaton Corp. PLC (ETN) Stocks Elliott Wave Technical Analysis: Focusing on its technical patterns through daily and 4-hour charts.

This article provides a comprehensive Elliott Wave analysis of Eaton Corp. PLC (ETN), focusing on it...

Read More >
Dogecoin Crypto Price News Today - Elliott Wave Analysis of Dogecoin/USD (DOGEUSD) A Comprehensive Guide

Dogecoin Crypto Price News Today - Elliott Wave Analysis of Dogecoin/USD (DOGEUSD) A Comprehensive Guide

This article offers a comprehensive look at the Dogecoin (DOGEUSD) market through the lens of Elliot...

Read More >
Exxon Mobil Corp.(XOM:NYSE) Elliott Wave Technical Analysis

Exxon Mobil Corp.(XOM:NYSE) Elliott Wave Technical Analysis

Exxon Mobil Corp.(XOM:NYSE) Elliott Wave Technical Analysis  looking for longs after upside confirma...

Read More >
NIFTY 50 Index Elliott Wave Technical Analysis Reveals Bullish Impulsive Trend with Strong Market Forecast and Support Level at 1621

NIFTY 50 Index Elliott Wave Technical Analysis Reveals Bullish Impulsive Trend with Strong Market Forecast and Support Level at 1621

The Nifty 50 Index shows a strong bullish impulsive trend on daily and weekly charts. Elliott Wave s...

Read More >
Unlocking ASX Trading Success: ASX LIMITED – ASX Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: ASX LIMITED – ASX Stock Analysis & Elliott Wave Technical Forecast

Our latest Elliott Wave analysis on ASX Limited provides valuable insights into stock market trends ...

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