ASX: COCHLEAR LIMITED – COH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart).
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH. We see COH likely to push higher with a ((5))-navy wave.
ASX: COH one-day chart analysis
Function: Major trend (Primary degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((5))-navy.
Details: Wave ((4))-navy has ended and wave ((5))-navy is unfolding to push higher, we will have a Long Trade Setup when I see the Major Level 300.00 becoming a tested support. I will analyze wave ((5))-navy in more detail on the 4H chart.
Invalidation point: 272.75.
ASX: COH four-hour chart analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave (1)-orange of Wave ((5))-navy.
Details: Since the low at 272.75 wave (1)-orange is unfolding, and it has pushed quite high, so basically it can push a little higher, then wave (2)-orange will unfold to push lower, and finally wave (3)-orange will return to continue the role of pushing higher. The bullish view will remain valid for wave (1) while price must always stay above 286.92, otherwise pushing lower shows wave (2)-orange is unfolding.
Invalidation point: 272.75.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: COCHLEAR LIMITED - COH 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.
Cochlear Limited Elliott Wave technical forecast [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD holds above 1.0900 after upbeat Eurozone sentiment data
EUR/USD trades marginally higher on the day above 1.0900 in the European session. The data from Germany and the Eurozone both showed that ZEW Survey - Economic Sentiment improved more than expected in October, helping the Euro hold its ground.
GBP/USD clings to recovery gains below 1.3100 after UK data
GBP/USD clings to recovery gains below 1.3100 in European trading on Tuesday. The data from the UK showed that the ILO Unemployment Rate declined to 4% in the three months to August, with Employment Change rising 373K, but failed to deter Pound Sterling.
Gold price remains depressed amid smaller Fed rate cut bets; lacks follow-through selling
Gold price ticks lower for the second straight day amid smaller Fed rate cut bets and a bullish USD. Signs of a slowdown in China – the biggest bullion consumer – further undermine the XAU/USD.
Canada CPI set to show easing price pressures in September ahead of BoC decision
The Canadian Consumer Price Index is expected to rise 1.8% YoY in September. The Bank of Canada has reduced its policy rate by 75 bps so far this year. The Canadian Dollar has been losing considerable ground in October.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.