ASX: REECE LIMITED - REH Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REECE LIMITED - REH. We have determined that wave (iv)-purple seems to have ended, and wave (v)-purple is being unfolded to push higher, towards the immediate target at around 30.00 - 31.10.

ASX: REECE LIMITED - REH Elliott Wave Technical Analysis  

ASX: REECE LIMITED - REH 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, red)

Mode: Motive

Structure: Impulse

Position: Wave (v)-purple of Wave ((v))-green of Wave 3-red

Details: The short-term outlook indicates that Wave (iv)-purple has ended as expected, and wave (v)-purple is being opened to push higher. It is targeting a goal of 31.10 while maintaining a price above 25.87 is advantageous and provides significant support for this view.

Invalidation point: 25.87

Reece-Limited-1D-asx...

 


 

ASX: REECE LIMITED - REH Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: REECE LIMITED - REH Elliott Wave Technical Analysis

ASX: REECE LIMITED - REH 4-Hour Chart Analysis

Function: Major trend (Subminuette degree, blue)

Mode: Motive

Structure: Impulse

Position: Wave ii-blue

Details: The short-term outlook suggests that wave (iv)-purple appears to have concluded, and wave (v)-purple is being initiated. It subdivides into wave i-blue, which has been completed, and wave ii-blue is currently unfolding to push slightly lower. Following this, wave iii-blue is expected to resume its upward movement, targeting the immediate goal around 30.00 - 31.10.

Invalidation point: 25.87

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

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

Previous: ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 6 Analysts covering over 150 Markets. Chat Room With Support

Reece-Limited-4Hr-as...

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: REECE LIMITED - REH 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.

Related

Elliott Wave Analysis: Key Signals to Watch in S&P 500 and NASDAQ 100 This Week

Elliott Wave Analysis: Key Signals to Watch in S&P 500 and NASDAQ 100 This Week

The Elliott Wave analysis for the S&P 500 and NASDAQ 100 suggests that these indices have not yet re...

Read More >
Get expert predictions on natural gas price direction: Natural Gas Commodity Elliottwave Technical Analysis

Get expert predictions on natural gas price direction: Natural Gas Commodity Elliottwave Technical Analysis

This article analyses natural gas prices using Elliott Wave Theory, exploring the current bullish co...

Read More >
Wheat Commodity Elliott Wave Technical Analysis: Bearish Trend Continues

Wheat Commodity Elliott Wave Technical Analysis: Bearish Trend Continues

The Elliott Wave analysis of Wheat on February 23, 2024, reveals a corrective counter-trend movement...

Read More >
Chainlink /U.S. Dollar Crypto Price News & LINKUSD Elliott Wave Forecast: Bullish Wave (3) Targets $18.94 and Resistance at $22

Chainlink /U.S. Dollar Crypto Price News & LINKUSD Elliott Wave Forecast: Bullish Wave (3) Targets $18.94 and Resistance at $22

This Elliott Wave breakdown of LINKUSD highlights bullish momentum targeting $18.94. Key support hol...

Read More >
ASX: Aristocrat Leisure Limited (ALL) Elliott Wave Technical Analysis, Stock Forecast, Price Target, Market Trends, and Predictions

ASX: Aristocrat Leisure Limited (ALL) Elliott Wave Technical Analysis, Stock Forecast, Price Target, Market Trends, and Predictions

This detailed Elliott Wave analysis of ASX: Aristocrat Leisure Limited (ALL) provides insights into ...

Read More >
Elliott Wave Analysis Update: Navigating Bitcoin, Bonds, and Precious Metals Trends

Elliott Wave Analysis Update: Navigating Bitcoin, Bonds, and Precious Metals Trends

This update provides an in-depth Elliott Wave Analysis across various commodities and financial mark...

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