ASX: SCENTRE GROUP (SCG) Elliott Wave Technical Analysis TradingLounge (1D Chart)
Welcome to our latest Elliott Wave analysis on the Australian Stock Exchange (ASX) featuring SCENTRE GROUP (SCG). We have identified that wave ((ii)) - navy has likely completed, with wave ((iii)) - navy potentially ready to progress.
ASX: SCENTRE GROUP (SCG) Elliott Wave Technical Analysis
1D Chart (Semilog Scale) Analysis
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave ((iii)) - navy
Details: The recent low of 3.14 suggests wave ((ii)) - navy ended sooner than expected, positioning wave ((iii)) - navy for a potential upward move. We are closely monitoring SCG for a possible Long Trade Setup. The invalidation point remains at 3.14.
ASX: SCENTRE GROUP (SCG) Elliott Wave Technical Analysis
TradingLounge (4-Hour Chart)
ASX: SCENTRE GROUP (SCG) 4-Hour Chart Analysis
Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave i - grey of Wave (iii) - orange
Details: Wave ((ii)) - navy appears to have bottomed out at 3.14, with wave ((iii)) - navy extending into wave (iii) - orange. This is further dividing into wave i - grey, which seems near completion, followed by wave ii - grey likely dipping slightly before wave iii - grey ascends. The invalidation point is 3.19.
Conclusion
Our analysis provides a comprehensive view of the market trends and short-term outlook for ASX: SCENTRE GROUP (SCG). We aim to help readers understand and utilize these trends effectively. Key price points are highlighted as validation or invalidation signals for our wave count, enhancing the reliability of our analysis. This analysis offers an objective and professional perspective on market movements.
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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