NWS Elliott Wave technical forecast [Video]
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NWS Elliott Wave technical analysis
Welcome to today’s Elliott Wave update on the Australian Stock Exchange (ASX), focusing on NEWS CORPORATION – NWS. Our current analysis shows that ASX:NWS is in a corrective phase. Typically, corrective waves are followed by motive waves, suggesting potential upside opportunities. This breakdown offers a detailed view of the technical structure and forecast.
NWS – Elliott Wave technical analysis (1D chart – Semilog scale)
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Function: Major Trend (Primary Degree, Navy).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave (A) – orange of Wave ((B)) – navy.
Details:
A five-wave sequence recently concluded around the $56.62 high. Currently, a corrective wave pattern is in progress, labeled as an ABC structure at the navy degree. This correction may push prices lower, with a potential target near $39.89.
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Invalidation point: $56.62.
NWS – Elliott Wave technical analysis (Four-hour chart)
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Function: Major Trend (Minute Degree, Navy).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave (A) – orange of Wave ((B)) – navy.
Details:
From the $56.62 high, the ((A)) navy wave has completed at the $46.74 low. The ongoing ((B)) navy wave is forming a Zigzag (A)(B)(C) pattern in orange. After a modest rise, the final (C) leg of the Zigzag is expected to move lower.
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Invalidation point: $46.74.
Conclusion:
This analysis provides both the broader context and short-term forecast for NEWS CORPORATION – NWS. We highlight specific price levels that confirm or invalidate the wave structure to enhance forecast reliability. Our objective is to equip traders with a professional, data-backed perspective to navigate ASX trends confidently.
Technical analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
NWS Elliott Wave technical analysis [Video]
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