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

Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with CSL LIMITED - CSL. We've identified that wave ((ii))-navy has recently bottomed out, and wave ((iii))-navy is now unfolding to push significantly higher.

ASX: CSL LIMITED - CSL Elliott Wave Technical Analysis

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

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave ((3))-navy of Wave iii-grey of Wave ((iii))-navy

Details: The short-term outlook indicates that wave ((ii))-navy has just completed, and wave ((iii))-navy is unfolding. It is subdividing into waves i, ii-grey and waves ((1)), ((2))-navy. Now, wave ((3))-navy can push higher, while the price must stay above 275.04, aiming for a target of 300.00.

Invalidation point: 275.04

CSL LIMITED - CSL Elliott Wave Technical Analysis TradingLounge 4-Hour Chart

ASX: CSL LIMITED - CSL Elliott Wave Technical Analysis

ASX: CSL LIMITED - CSL 4-Hour Chart Analysis

Function: Major trend (Subminuette degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((3))-navy of Wave iii-grey

Details: The shorter-term outlook shows that wave ((2))-navy has bottomed with a Double Zigzag pattern. This suggests that wave ((3))-navy is unfolding to reach the 300.00 level. The price must stay above 275.04 to maintain this outlook.

Invalidation point: 275.04

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

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Conclusion:  

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