ASX: Vanguard V300AEQ ETF Units – VAS Elliott Wave Technical Analysis TradingLounge (1D Chart)
Greetings, today's Elliott Wave analysis provides an update on the Australian Stock Exchange (ASX) with a focus on V300AEQ ETF Units – VAS. We have confirmed the end of wave 2-red, and wave 3-red is beginning to push higher.
ASX: V300AEQ ETF Units – VAS Elliott Wave Technical Analysis
ASX: V300AEQ ETF Units – VAS 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minor degree, red)
Mode: Motive
Structure: Impulse
Position: Wave ((i))-green of Wave 3-red
Details: The short-term outlook indicates that wave ((i))-green is developing and continues to push higher. The price must remain above 96.25. A drop below this level would signal that wave ((ii))-green is unfolding.
Invalidation point: 83.45
ASX: V300AEQ ETF Units – VAS Elliott Wave Technical Analysis (4-Hour Chart)
ASX: V300AEQ ETF Units – VAS 4-Hour Chart Analysis
Function: Major trend (Minute degree, green)
Mode: Motive
Structure: Impulse
Position: Wave (v)-purple of Wave ((iii))-green
Details: The even shorter-term outlook suggests that wave 3-red is unfolding, with wave (v)-purple nearing completion. This coincides with the completion of wave ((i))-green. The trend is likely to continue higher, provided the price stays above 96.24. A drop below this level would indicate that wave ((ii))-green is starting to push lower, followed by wave ((iii))-green pushing higher again.
Invalidation point: 92.93
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our analysis and forecast of contextual trends, along with the short-term outlook for ASX: V300AEQ ETF Units – VAS, aim to provide valuable insights into current market trends and strategies for effective capitalization. We offer specific price points 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.