ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical 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 significant 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 v-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 37.60 level. The Long position has yielded substantial profits.

Invalidation point: 35.46

ASX: 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 v-grey of Wave (iii)-orange

Details: The shorter-term outlook shows that the v-grey wave may have recently ended as an Expanded Flat, and the v-grey wave is being opened up to push higher, possibly targeting 37.60.
Invalidation point: 35.46

Conclusion:
Our analysis and forecast of contextual trends and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB aim to provide 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.

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

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