ASX: COCHLEAR LIMITED - COH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH. We identify in the short term that COH could decline lower to complete a Zigzag Correction with wave ((ii))-green, followed by a potential resurgence of wave ((iii))-green to push higher.

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis  

ASX: COCHLEAR LIMITED - COH 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, red)

Mode: Motive

Structure: Impulse

Position: Wave ((ii))-green of Wave 5-red

Details: The short-term outlook indicates that red wave 5 is currently unfolding to push higher, subdividing into the green wave ((i)). Currently, the green wave ((ii)) is unfolding to push lower. The reason for counting this wave is because I observe that red wave 1 and red wave 3 are relatively equal in size in terms of price, so this provides a useful guideline to anticipate an extended red wave 5.

Invalidation point: 283.70 

COCHLEAR-LIMITED-1D-...


 

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis

ASX: COCHLEAR LIMITED - COH 4-Hour Chart Analysis

Function: Major trend (Minute degree, green)

Mode: Motive

Structure: Impulse

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

Details: The further short-term outlook indicates that the green wave ((i)) has peaked, and the green wave ((ii)) is currently unfolding to push lower. The typical target for the second wave often seeks around the 61.8% retracement level (307.42), or it could be lower at (c) = 1.618 x (a) at 300.4. This is also a common boundary of the green wave ((ii)), followed by the potential return of the green wave ((iii)) to push even higher. While price maintaining below 330.12 will be an advantage and extremely good resistance for this bearish view.

Invalidation point: 283.70

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: COCHLEAR LIMITED - COH 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: ASX: NEWMONT CORPORATION – NEM 

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

COCHLEAR-LIMITED-4Hr...

Related

Corn Commodity Elliott Wave Technical Analysis: Market Outlook for Precise Trading Decisions

Corn Commodity Elliott Wave Technical Analysis: Market Outlook for Precise Trading Decisions

Corn futures continue to follow a bearish Elliott Wave pattern, with key resistance at 504.5 and pot...

Read More >
Silver (XAGUSD) Price and Elliott Wave Technical Analysis: Buy the Dip for Profitable Silver Trading

Silver (XAGUSD) Price and Elliott Wave Technical Analysis: Buy the Dip for Profitable Silver Trading

This comprehensive guide offers valuable insights into Silver trading, covering essential topics suc...

Read More >
Elliott Wave Analysis: S&P 500, NASDAQ 100, DAX 40, FTSE 100, ASX200 Trading Strategies

Elliott Wave Analysis: S&P 500, NASDAQ 100, DAX 40, FTSE 100, ASX200 Trading Strategies

Elliott Wave Analysis indicates a 'Risk On' sentiment for ASX 200, DAX 40, and FTSE 100. The...

Read More >
U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis 29 January 24

U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis 29 January 24

The USDJPY Elliott Wave Analysis dated 29 January 24, provides a comprehensive examination of the U....

Read More >
Elliott Wave Trading Strategies: SP500, NASDAQ 100, Tech Stocks, and Bitcoin

Elliott Wave Trading Strategies: SP500, NASDAQ 100, Tech Stocks, and Bitcoin

Stay updated with TradingLounge’s latest Elliott Wave trading strategies for SP500, NASDAQ 100, lea...

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