Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that VAS has the potential to continue rising to higher levels, aiming for a target at 100.51, which also a good potential opportunity.
ASX: V300AEQ ETF units – VAS Elliott Wave technical analysis
Function: Major trend (Minute degree, green).
Mode: Motive.
Structure: Impulse.
Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green.
Details: The short-term outlook suggests that wave ((v))-green is unfolding to push higher, subdividing into waves (i) and (ii)-purple, followed by waves (i) and (ii)-blue. The immediate target for this upward push could be around 100.51, while maintaining a price above 94.98 would be a significant advantage for this perspective.
Invalidation point: 92.52.
VAS Elliott Wave technical analysis one-day chart
ASX: V300AEQ ETF units – VAS Elliott Wave technical analysis
Function: Major trend (Minuette degree, purple)
Mode: Motive
Structure: Impulse wave
Position: Wave iii-blue of Wave (iii)-purple
Details: The short-term outlook suggests that wave ii-blue appears to have concluded, and wave iii-blue is unfolding to push higher, targeting 100.51. Maintaining a price above 96.20 would be a significant advantage for this outlook.
Invalidation point: 94.98.
VAS Elliott Wave technical analysis – Four-hour chart
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS 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.
ASX: V300AEQ ETF units – VAS Elliott Wave technical analysis [Video]
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