ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Analysis TradingLounge (1D Chart)
Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NATIONAL AUSTRALIA BANK LIMITED - NAB. We see that wave (iii)-orange of wave ((v))-navy is opening up to push even higher. The most recent Long Trade position at Trade Recommendations generated quite good profits.
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave iii-grey of Wave (iii)-orange of Wave ((v))-navy
Details: The short-term outlook suggests wave (iii)-orange is unfolding to push higher. Wave ((3))-navy of iii-grey continues to open; if it penetrates the 36.50 level, it will continue towards the 37.20 level. The Long position has had quite good profits.
Invalidation point: 34.83
NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 4-Hour Chart Analysis
Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave ((5))-navy of Wave iii-grey of Wave (iii)-orange
Details: The short-term outlook shows that wave iii-grey is opening, it is subdividing into wave ((3))-navy and has just ended. Wave ((4))-navy opened and seems to have ended. Momentum now is the time for wave ((5))-navy to continue pushing higher, aiming for a target of 36.50 or beyond, while the price must always maintain above 35.82.
Invalidation point: 35.80
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
Previous: ASX LIMITED - ASX Elliott Wave Technical Analysis
Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here
Access 7 Analysts Over 170 Markets Covered. Chat Room With Support
Conclusion
Our analysis and forecast of contextual trends, and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 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 the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.