ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis (1D Chart)
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that VAS.ASX may continue to rise higher than wave ((iii)) - navy of wave 3 - grey.
ASX: V300AEQ ETF UNITS – 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave ((iii)) - navy
Details:
Wave ((ii)) - navy ended earlier than expected at the low of 95.30. Wave ((iii)) - navy is opening up to push higher. Aim for 110-120 or beyond; while the price must remain above the 95.30 level to sustain this view.
Invalidation point: 95.30
ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis (4-Hour Chart)
VAS Elliott Wave Technical Analysis
ASX: V300AEQ ETF UNITS 4-Hour Chart Analysis
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (iii) - orange of Wave ((iii)) - navy
Details:
Wave ((iii)) - navy is opening up to push higher, subdividing into wave (iii) - orange, which will essentially continue to push higher. Then wave (iv) - orange will pull back down a bit, and finally, wave (v) - orange will return to push higher. The Long Trade position updated at "Stock Check" has generated good profits.
Invalidation point: 95.30
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS 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 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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