Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) TRANSURBAN GROUP - TCL. We are identifying that TCL has a 2-red wave that opened in the form of a Zigzag, and may soon end, opening up the opportunity to move higher with wave 3-red. We will continuously monitor TCL in the ASX Stocks Top 50 service.

ASX: TRANSURBAN GROUP - TCL Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

ASX: TRANSURBAN GROUP - TCL Elliott Wave Technical Analysis  

ASX: TRANSURBAN GROUP - TCL1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, red)
Mode: Motive
Structure: Impulse
Position: Wave ((c))-green of Wave 2-red

Latest forecast: Accurate forecast
Details: The short-term outlook indicates that wave 2-red is unfolding, subdividing into waves ((a)) and ((b))-green, which have completed. Now, wave ((c))-green is unfolding, and it appears it will soon conclude, preparing for the resumption of wave 2-red to push higher.
Invalidation point: 11.58

TRANSURBAN-GROUP-1D-...


 

ASX: TRANSURBAN GROUP – TCL Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: TRANSURBAN GROUP – TCL Elliott Wave Technical Analysis

ASX: TRANSURBAN GROUP - TCL 4-Hour Chart Analysis

Function: Counter trend (Minute degree, green)
Mode: Corrective
Structure: Zigzag
Position: Wave (iii)-purple of Wave ((c))-green

Details: The short-term outlook suggests that wave 2-red is unfolding, subdividing into either a Zigzag or a Double Zigzag with alternate wave counts. There are some signs indicating that an upward movement may resume, and I will monitor TCL more closely. The overall trend is still bearish, so wave ((c))-green may continue to push lower. However, if the resistance level of 13.49 is surpassed, it will validate the bullish perspective I am mentioning.
Invalidation point: 13.68

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: RIO TRANSURBAN GROUP – TCL 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 the 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: NATIONAL AUSTRALIA BANK LIMITED - NAB 

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

TRANSURBAN-GROUP-4H-...

Related

Our Technical Insights Include Detailed Chart Analysis: CSL LIMITED – CSL Stock Analysis & Elliott Wave Technical Forecast

Our Technical Insights Include Detailed Chart Analysis: CSL LIMITED – CSL Stock Analysis & Elliott Wave Technical Forecast

Explore our comprehensive Elliott Wave analysis of CSL LIMITED (ASX: CSL), focusing on the latest st...

Read More >
NVIDIA Corp. (NVDA) Stock Analysis: Elliott Wave Forecast, Bullish Trend Insights, Technical Chart Patterns

NVIDIA Corp. (NVDA) Stock Analysis: Elliott Wave Forecast, Bullish Trend Insights, Technical Chart Patterns

NVIDIA (NVDA) stock analysis focuses on Elliott Wave Theory to forecast trends and price movements. ...

Read More >
Natural Gas Commodity Elliott Wave Technical Analysis Predicts a Continuation of the Bearish Trend in 2024 and Offers Insights

Natural Gas Commodity Elliott Wave Technical Analysis Predicts a Continuation of the Bearish Trend in 2024 and Offers Insights

This article provides a detailed analysis of the natural gas market using Elliott Wave theory. It co...

Read More >
Dogecoin Price Forecast: Elliott Wave Technical Analysis, MA200 Uptrend Insights, Wave V Targets, and Strategic Trading Tips

Dogecoin Price Forecast: Elliott Wave Technical Analysis, MA200 Uptrend Insights, Wave V Targets, and Strategic Trading Tips

Dogecoin price prediction using Elliott Wave technical analysis discovers trading strategies, Wave V...

Read More >
U.S.Dollar/Swiss Franc (USD/CHF)  Forex Elliott Wave Technical Analysis and USDCHF Currency Pair

U.S.Dollar/Swiss Franc (USD/CHF)  Forex Elliott Wave Technical Analysis and USDCHF Currency Pair

This detailed article provides an insightful Elliott Wave analysis of the USD/CHF currency pair. Off...

Read More >
Comprehensive Elliott Wave Analysis for PayPal (PYPL): Unlocking Stock Trends and Market Opportunities

Comprehensive Elliott Wave Analysis for PayPal (PYPL): Unlocking Stock Trends and Market Opportunities

This article provides an in-depth Elliott Wave analysis of PayPal Holdings Inc. (PYPL), covering bot...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

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

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

Gain a competive edge with expert insights in to:

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

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • 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