ASX: LIGHT & WONDER INC. – LNW Elliott Wave Technical Analysis TradingLounge (1D Chart)
Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with LIGHT & WONDER INC. (LNW). We determine that LNW is developing under wave ((ii))-green, which may end soon, setting the stage for wave ((iii))-green to push higher.
ASX: LIGHT & WONDER INC. - LNW Elliott Wave Technical Analysis
ASX: LIGHT & WONDER INC. - LNW 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minor degree, red)
Mode: Motive
Structure: Impulse
Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green
Details: The short-term outlook indicates that wave ((ii))-green has extended longer than anticipated, evolving into a Double Zigzag. Wave (x)-purple has completed, and wave (y)-purple is unfolding, continuing to push lower.
Invalidation point: 136.07
ASX: LIGHT & WONDER INC. - LNW Elliott Wave Analysis TradingLounge (4-Hour Chart)
ASX: LIGHT & WONDER INC. - LNW 4-Hour Chart Analysis
Function: Major trend (Minute degree, green)
Mode: Motive
Structure: Impulse
Position: Wave b-blue of Wave (y)-purple of Wave ((ii))-green
Details: The shorter-term outlook suggests that wave (y)-purple is unfolding, subdividing into waves a, b, c-blue, with wave a-blue having just completed. Now, wave b-blue is set to unfold, pushing slightly higher before wave c-blue resumes to push lower. This sequence will complete wave ((ii))-green, allowing wave ((iii))-green to resume and push higher.
Invalidation point: 162.00
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
Our analysis and forecast of contextual trends for ASX: LIGHT & WONDER INC. (LNW) aim to provide readers with insights into current market trends and strategies to capitalize on them effectively. We offer specific price points as validation or invalidation signals for our wave count, enhancing confidence in our perspective. By combining these factors, we strive to provide readers with the most objective and professional perspective on market trends.