ASX: ARISTOCRAT LEISURE LIMITED - ALL Elliott Elliott Wave Technical Analysis TradingLounge.
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) ARISTOCRAT LEISURE LIMITED – ALL. We see that in the short term ASX:ALL is close to completing a Triangle, and we should have another push up after that.
ALL 1D chart (semilog scale) analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave (v)-orange of Wave ((v))-navy.
Details: Wave ((v))-navy could continue to push higher towards the target at the upper edge of the Channel. While price must remain above 65.92 to maintain this view, a push lower suggests that wave 3-grey may have ended and wave 4-grey is unfolding.
Invalidation point: 65.92.
ALL four-hour chart analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((e))-navy of Wave iv-grey.
Details: Wave iii-grey has ended, and wave iv-grey is unfolding and developing as a Triangle labeled ((a))((b))((c))((d))((e))-navy, it is probably nearing completion, and we will have a short-term advance with wave v-grey.
Invalidation point: 65.92.
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: ARISTOCRAT LEISURE LIMITED - ALL 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).
ALL 1D chart (semilog scale) analysis [Video]
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