ASX: FPH Elliott Elliott Wave technical analysis
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH. We see FPH could be about to move up with wave ((iii))-navy, but it needs a little more time for wave ((ii))-navy to complete.
ASX: FPH one-day chart analysis
Function: Major trend (Intermediate degree, orange).
Mode: Motive.
Structure: Impulse.
Position: Wave ((ii))-navy of Wave 5-grey of Wave (5)-orange.
Details: Wave 5-grey is unfolding to push higher, it is subdividing into wave ((ii))-navy, basically it will push lower a bit, then wave ((iii))-navy will come back to push higher.
Invalidation point: 31.27.
ASX: FPH four-hour chart analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave (b)-orange of Wave ((ii))-orange of Wave 5-grey.
Details: Looking closer, wave ((i))-navy has ended, now wave ((ii))-navy unfolds to push lower to complete its role as (a),(b),(c). After wave ((ii))-navy ends, wave ((iii))-navy will return to push higher. And 33.00 could become a tested support level, then it could go Long higher.
Invalidation point: 31.27.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH 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.
Fisher & Paykel Healthcare Corporation Limited Elliott Wave 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 clings to recovery gains near 1.0850 ahead of Fedspeak
EUR/USD trades in positive territory near 1.0850 on Friday following a four-day slide. China's stimulus optimism and a broad US Dollar correction help the pair retrace the dovish ECB decision-induced decline. All eyes remain on the Fedspeak.
GBP/USD pares UK data-led gains below 1.3050
GBP/USD is trading below 1.3050 in European trading on Friday, reversing upbeat UK Retail Sales data-led gains. The UK data failed to alter dovish BoE expectations. The downside, however, appears limited by the US Dollar pullback. Fedspeak awaited.
Gold plants flag above fresh all-time high at $2,700 on increased prospects of global easing
Gold (XAU/USD) establishes a foothold above the $2,700 psychological level on Friday after piercing through above this level on the previous day, setting yet another fresh all-time high.
Crypto ETF adoption should pick up pace despite slow start, analysts say
Big institutional investors are still wary of allocating funds in Bitcoin spot ETFs, delaying adoption by traditional investors. Demand is expected to increase in the mid-term once institutions open the gates to the crypto asset class.
Canada debates whether to supersize rate cuts
A fourth consecutive Bank of Canada rate cut is expected, but the market senses it will accelerate the move towards neutral policy rates with a 50bp step change. Inflation is finally below target and unemployment is trending higher, but the economy is still growing.
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.