ASX: WOOLWORTHS GROUP LIMITED - WOW Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, our latest Elliott Wave analysis on the Australian Stock Exchange (ASX) features WOOLWORTHS GROUP LIMITED - WOW. The current trend suggests WOW.ASX might move lower in the short term.

ASX: WOOLWORTHS GROUP LIMITED - WOW Elliott Wave Technical Analysis

ASX: WOOLWORTHS GROUP LIMITED - WOW 1D Chart (Semilog Scale)

Analysis Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave (2) - orange

Details:

Wave (1) - orange appears to have concluded with a five-wave pattern. Currently, wave (2) - orange is developing, which might lead to a downward movement. The target range is around 33.22 - 32.61. We will monitor wave (2) closely for a potential long trade setup.

Invalidation point: 30.12

Woolworths-Group-Lim...


ASX: WOOLWORTHS GROUP LIMITED - WOW Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: WOOLWORTHS GROUP LIMITED - WOW Elliott Wave Technical Analysis

ASX: WOOLWORTHS GROUP LIMITED - WOW 4-Hour Chart Analysis

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave (2) - orange

Details:

The five-wave pattern in wave (1) - orange has been completed. Now, wave (2) - orange seems to be unfolding, possibly leading to a further decline. The initial target is 33.22, with the potential to reach 32.61 or 32.00.

Invalidation point: 30.12

Conclusion:
Our analysis provides a forecast of contextual trends and a short-term outlook for ASX: WOOLWORTHS GROUP LIMITED - WOW. This aims to offer insights into the current market trends and how to capitalize on them effectively. We provide specific price points as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By integrating these factors, we aim to deliver an objective and professional view on market trends.

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

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: ASX: CSL LIMITED Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support

Woolworths-Group-Lim...

Related

Exploring ASX Trading Success: ASX LIMITED – ASX Stock Analysis & Elliott Wave Technical Forecast

Exploring ASX Trading Success: ASX LIMITED – ASX Stock Analysis & Elliott Wave Technical Forecast

Dive deep into the financial waters of ASX Limited with our detailed analysis. Leveraging Elliott Wa...

Read More >
Comprehensive analysis of VeChain (VETUSD): VeChain Crypto Price News Today Elliott Wave Technical Analysis

Comprehensive analysis of VeChain (VETUSD): VeChain Crypto Price News Today Elliott Wave Technical Analysis

This article provides a comprehensive analysis of VeChain (VETUSD) using Elliott Wave theory. It cov...

Read More >
Current Market Structure and Trading Strategies for MCD: McDonald’s Corp. Stocks Elliott Wave Technical Analysis

Current Market Structure and Trading Strategies for MCD: McDonald’s Corp. Stocks Elliott Wave Technical Analysis

Get comprehensive insights into McDonald's stock with our detailed Elliott Wave analysis. Learn ...

Read More >
Fortinet Inc. (FTNT) Stocks Elliott Wave Technical Analysis: Valuable Insights into FTNT’s next Price Movements and Trend

Fortinet Inc. (FTNT) Stocks Elliott Wave Technical Analysis: Valuable Insights into FTNT’s next Price Movements and Trend

This Elliott Wave analysis provides an in-depth look at Fortinet Inc. (FTNT) stock, reviewing the cu...

Read More >
British Pound/Japanese Yen (GBPJPY) Forex Elliott Wave Technical Analysis: Analyzing Daily or 4-hour Charts for Effective Trading

British Pound/Japanese Yen (GBPJPY) Forex Elliott Wave Technical Analysis: Analyzing Daily or 4-hour Charts for Effective Trading

This article provides an in-depth GBPJPY Elliott Wave analysis, focusing on counter-trend and bearis...

Read More >
Analog Devices Inc.(ADI:NASDAQ) Elliott Wave Technical Analysis 29 November 23

Analog Devices Inc.(ADI:NASDAQ) Elliott Wave Technical Analysis 29 November 23

Analog Devices Inc.(ADI: NASDAQ) Elliott Wave Technical Analysis dated 29 November 23, Analog Device...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on