Light & Wonder Inc. Elliott Wave technical analysis [Video]
|ASX: LNW Elliott Wave technical analysis
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) LIGHT & WONDER INC. – LNW. We see LNW pushing lower to complete wave 2-grey, then wave 3-grey could return to push much higher.
ASX: LNW one-day chart (semilog scale) analysis
Function: Major trend (Intermediate degree, orange).
Mode: Motive.
Structure: Impulse.
Position: Wave 2-grey of Wave (3)-orange.
Details: Wave 1-grey just ended as a Diagonal, and wave 2-grey is unfolding to push lower, it could continue to push lower. Diagonals are often followed by Sharp movements, and deep corrections.
Invalidation point: 114.35.
ASX: LNW four-hour chart analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((c))-navy of Wave 2-grey.
Details: Since wave 1-grey ended, I see wave 2-grey unfolding as a Zigzag labeled ((a))((b))((c))-navy, it looks like wave ((b))-navy ended at the high of 145.67 and wave ((c))-navy is unfolding to push further down, targeting the next low around 124.51.
Invalidation point: 145.67.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: LIGHT & WONDER INC. – LNW 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.
Light & Wonder Inc. Elliott Wave technical 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.