ASX: BRAMBLES LIMITED - BXB Elliott Wave Analysis | TradingLounge (1D Chart)
Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BRAMBLES LIMITED - BXB. It appears that BXB has completed wave (ii)-orange, though it needs to push slightly higher to confirm this view. Wave (iii)-orange may resume to push higher.
ASX: BRAMBLES LIMITED - BXB Elliott Wave Technical Analysis
ASX: BRAMBLES LIMITED - BXB 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-orange
Details: The short-term outlook indicates wave (ii)-orange has ended, with wave c-grey fully breaking down into 5 waves. A push above 14.60 would renew this bullish view.
Invalidation point: 12.70
Confirmation point: 14.60
ASX: BRAMBLES LIMITED - BXB Elliott Wave Technical AnalysismTradingLounge (4-Hour Chart)
ASX: BRAMBLES LIMITED - BXB Elliott Wave Technical Analysis
ASX: BRAMBLES LIMITED - BXB 4-Hour Chart Analysis
Function: Major trend (Sub-minuette degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave ((2))-navy of Wave i-grey
Details: The shorter-term outlook suggests wave c-grey of wave (ii)-orange may have completed its five-wave structure, indicating it might have ended, and wave (iii)-orange could be resuming to push higher. However, it's too early to draw a definitive conclusion. The price needs to move above 14.60 to clarify this view, while it must remain above 13.88 to keep this wave count valid.
Invalidation point: 13.88
Confirmation point: 14.60
Conclusion:
Our analysis and forecast for ASX: BRAMBLES LIMITED - BXB aim to provide insights into current market trends and how to capitalize on them effectively. We offer specific price points as validation or invalidation signals for our wave count, enhancing confidence in our perspective. Combining these factors, we strive to offer the most objective and professional perspective on market trends.
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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