ASX: UNIBAIL-RODAMCO-WESTFIELD (URW) Elliott Wave Analysis TradingLounge (1D Chart)
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with a focus on UNIBAIL-RODAMCO-WESTFIELD (URW). Our current assessment suggests that URW may continue to decline, and the uptrend might not resume.
ASX: UNIBAIL-RODAMCO-WESTFIELD- 1D Chart (Semilog Scale)
URW Elliott Wave Technical Analysis
Analysis Function:
Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave ((b)) - Navy of Wave 2 - Grey
Details:
- The short-term outlook shows that wave ((a)) - navy has just completed.
- Wave ((b)) - navy is expected to push higher, targeting around 6.18 or slightly higher.
- After this, wave ((c)) - navy will likely push lower, towards the support level of 5.17.
- Invalidation Point: 3.42
ASX: UNIBAIL-RODAMCO-WESTFIELD (URW) Elliott Wave Analysis - TradingLounge (4-Hour Chart)
ASX: UNIBAIL-RODAMCO-WESTFIELD (URW) Elliott Wave Technical Analysis - 4-Hour Chart Analysis
Analysis Function:
Major Trend (Minor Degree, Gray)
Mode: Motive
Structure: Impulse
Position: Wave ((c)) - Navy of Wave 2 - Gray
Details:
- Wave 2 - Gray is unfolding and subdividing into wave ((b)) - navy, which likely ended at the high of 6.16.
- Now, wave ((c)) - navy is expected to push lower, aiming for around 5.17.
- Price must remain below the 6.16 high to maintain this view.
- Invalidation Point: 3.42
Conclusion
Our analysis and forecast of contextual trends and short-term outlook for ASX: UNIBAIL-RODAMCO-WESTFIELD (URW) aim to provide insights into 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.
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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