ASX: COMPUTERSHARE LIMITED. - CPU Elliott Elliott Wave Technical Analysis TradingLounge.
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COMPUTERSHARE LIMITED. - CPU. We see ASX:CPU nearing the completion of wave ((i))-navy and a pullback to wave ((ii))-navy is expected in the near term.
CPU one day chart (semilog scale) analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((i))-navy of Wave 3-grey.
Details: Wave 3-grey is unfolding to push higher. It is subdividing into wave ((i))-navy itself, and it will continue to push higher, after which a pullback with wave ((ii))-navy will await.
Invalidation point: 24.68.
CPU four-hour chart analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave a-grey of Wave (iv)-orange of Wave ((i))-navy.
Details: Wave (iii)-orange has completed as a five-wave labeled from wave i-grey to wave v-grey, now it is time for wave (iv)-orange to push lower, it is expected to target around 30.57, after which wave (v)-orange may continue to advance higher.
Invalidation point: 26.79.
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: COMPUTERSHARE LIMITED. - CPU 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).
CPU four-hour chart analysis [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 keeps the red near 1.0500 amid market caution ahead of US CPI
EUR/USD holds losses near 1.0500 in the European session on Wednesday. The pair faces headwinds from a cautious market mood and resurgent US Dollar demand, as traders expect an uptick in the US inflation data that could impact the Fed's easing trajectory while the ECB remains on track for more rate cuts.
GBP/USD drops below 1.2750, awaits US inflation data
GBP/USD is back in the red below 1.2750 in European trading on Wednesday. The Pound Sterling loses traction amid renewed US Dollar buying as risk sentiment worsens heading into the key US CPI showdown. The US inflation data is key to gauging the pace of Fed's future rate cuts.
Gold price steadies below $2,700 as traders seem reluctant ahead of US inflation data
Gold price seems to have stabilized following good two-way intraday price swings and currently trades around the $2,690 area, below a two-week high touched earlier this Wednesday. Expectations that the Fed will adopt a cautious stance on cutting rates continue to push the US Treasury bond yields.
US CPI set to grow at faster pace in November, edging further away from Fed target
The US Consumer Price Index report for November, a key measure of inflation, will be unveiled at 13:30 GMT by the Bureau of Labor Statistics. Markets are buzzing in anticipation, as the release could trigger significant swings in the US Dollar and influence the Federal Reserve's plans for interest rates in the months ahead.
How the US-China trade dispute is redefining global trade
Since Donald Trump took office in 2017, trade flows and market shares have changed substantially. We think that shift is set to continue under looming tariffs and a new protectionist environment.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.