ASX: V300AEQ ETF UNITS – VAS Elliott Wave Analysis TradingLounge (1D Chart)

Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We observe that wave 2-grey has concluded, and wave 3-grey is unfolding, pushing higher. Subwaves are developing as wave ((i)), and wave ((ii))-navy appears to be nearing completion, allowing wave ((iii))-navy to push higher later.

ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis

ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave c-grey of Wave (y)-orange of Wave ((ii))-navy

Details: The short-term outlook shows that wave ((ii))-navy is lasting longer than expected, unfolding as a Double Zigzag. Wave (y)-orange seems to be nearing completion, and will be followed by wave ((iii))-navy pushing higher.

Invalidation point: 92.93

ASX: V300AEQ ETF UNITS – VAS Elliott Wave Analysis TradingLounge (4-Hour Chart)

ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis

ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave c-grey of Wave (y)-orange of Wave ((ii))-navy

Details: The shorter-term outlook shows wave ((ii))-navy developing as a Double Zigzag. Wave (y)-orange is unfolding as an ABC Zigzag, with waves a,b-grey completed, and wave c-grey continuing to push lower. After wave ((ii))-navy completes, wave ((iii))-navy will push even higher.

Invalidation point: 92.93

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

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Conclusion

Our analysis and forecast of contextual trends, along with the short-term outlook for ASX: V300AEQ ETF UNITS – VAS, 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 confidence in our perspective. Combining these factors, we strive to offer the most objective and professional perspective on market trends.