NWS Elliott Wave technical analysis
Today’s Elliott Wave update focuses on the Australian Stock Exchange (ASX), analyzing NEWS CORPORATION – NWS. Our current assessment shows that ASX:NWS is moving within a corrective wave, typically followed by motive waves, which could create new upward opportunities. This report delves into that outlook.
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Function: Major Trend (Primary Degree, Navy).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave (1) – Orange of Wave ((C)) – Navy.
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Details:
A significant five-wave move appears completed near the high of 56.62. A corrective wave structure is now forming, likely following an ABC pattern (navy level), which suggests continued downward pressure. The projected decline could reach around 41.175. -
Invalidation point: 49.840.
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Function: Major Trend (Minute Degree, Navy).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave (1) – Orange of Wave ((C)) – Navy.
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Details:
Since reaching the 49.84 low, wave ((C)) navy has been unfolding downward. It’s currently subdividing into wave (1) orange, which is nearing completion. A short-term rise in wave (2) orange is likely before further decline continues via wave (3) orange. -
Invalidation point: 49.84.
Conclusion:
Our analysis outlines both the trend direction and short-term outlook for NEWS CORPORATION – NWS, providing clear insight into how traders might position around current market behavior. Specific validation and invalidation levels help improve confidence in the wave count. With this structure, we aim to deliver an objective, professional view for market participants.
Technical analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
NWS Elliott Wave technical analysis [Video]
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