Cochlear Limited Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH.

We observe that COH has concluded wave ((4)) - navy as a Triangle, and wave ((5)) - navy is poised to advance.

ASX: COH Elliott Wave technical analysis

1D Chart (Semilog Scale) Analysis

Function: Major trend (Primary degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((5)) - navy.
Details: Wave ((4)) - navy seems to have ended at the low of 318.39 as a Triangle, and wave ((5)) - navy is unfolding to move higher, targeting around 386.63 - 400.00 or beyond. The invalidation point is 318.39.

COH Elliott Wave technical analysis – One-day chart

COH Elliott Wave four-hour chart analysis

Function: Major trend (Primary degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((5)) - navy.
Details: Wave ((4)) - navy has just concluded at the low of 318.39 as a Triangle, and wave ((5)) - navy is likely to push higher, provided the price remains above 318.39. The target is 400.00 or beyond. The invalidation point is 318.39.

Conclusion

Our analysis, forecast of contextual trends, and short-term outlook for ASX: COCHLEAR LIMITED - COH aim to provide readers with insights into current market trends and strategies to capitalize on them effectively. We offer specific price points 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 market trend analysis.

Cochlear Limited Elliott Wave technical forecast [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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