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

Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WOOLWORTHS GROUP LIMITED - WOW. We see WOW.ASX potentially pushing 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 (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (iv)-orange of Wave ((iii))-navy

Details: Wave (iii)-orange seems to have just ended, and wave (iv)-orange is unfolding to push lower, targeting 27.78. I will look for a Long Trade Setup after wave (2)-orange ends.

Invalidation point: 21.06

ASX: TRANSURBAN GROUP – TCL 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 ©-navy of Wave (2)-orange

Details: Wave (1)-orange has completed as a Five-waves, now it looks like wave (2)-orange is starting to unfold to push lower. It is developing as a Zigzag, wave ((b))-navy just completed at the high at 34.99, and wave ((c))-navy is unfolding to push lower, continuing towards the target around 32.61. I will look for a Long Trade Setup after wave (2)-orange ends.

Invalidation point: 30.12

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: WOOLWORTHS GROUP LIMITED - WOW 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 the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.