CPU Elliott Wave technical forecast [Video]
|ASX: COMPUTERSHARE LIMITED. - CPU Elliott Elliott Wave Technical Analysis TradingLounge.
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COMPUTERSHARE LIMITED. - CPU. We see ASX:CPU nearing the completion of wave ((i))-navy and a pullback to wave ((ii))-navy is expected in the near term.
CPU one day chart (semilog scale) analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((i))-navy of Wave 3-grey.
Details: Wave 3-grey is unfolding to push higher. It is subdividing into wave ((i))-navy itself, and it will continue to push higher, after which a pullback with wave ((ii))-navy will await.
Invalidation point: 24.68.
CPU four-hour chart analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave a-grey of Wave (iv)-orange of Wave ((i))-navy.
Details: Wave (iii)-orange has completed as a five-wave labeled from wave i-grey to wave v-grey, now it is time for wave (iv)-orange to push lower, it is expected to target around 30.57, after which wave (v)-orange may continue to advance higher.
Invalidation point: 26.79.
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: COMPUTERSHARE LIMITED. - CPU 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.
Technical analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
CPU four-hour chart analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.