ASX: RESMED INC - RMD Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX. We determined that wave ((iv))-navy may have ended and wave ((v))-navy was opened to push higher.
ASX: ResMed Inc - RMD Elliott Wave technical analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((v))-navy of Wave 3-grey.
Details: The short-term outlook shows that wave ((iv))-navy has just ended, and wave ((v))-navy may return to push higher.
Invalidation point: 30.93.
ASX: ResMed Inc - RMD four-hour chart analysis
Function: Major trend (Subminuette degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((3))-navy of Wave iii-grey.
Details: The shorter-term outlook shows that wave ((v))-navy is unfolding, it is subdividing into waves i,ii-grey and ((1)),((2)),((3))- navy. navy. Wave ((3))-navy is unfolding to continue pushing higher, possibly targeting 34.00.
Invalidation point: 30.93.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: RESMED INC - RMD 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.
Resmed Inc 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 extends slide below 1.0500 after US ADP report
EUR/USD extends its slide below the 1.0500 mark after the United States (US) ADP report showed the private sector added 146K new positions in November, missing expectations. ECB President Christine Lagarde coming up next, with Fed Chairman Powell on the docket later in the day.
GBP/USD struggles around 1.2670 after US data
GBP/USD remains depressed below the 1.2700 mark on Wednesday without clear directional strength. Dovish BoE Governor Bailey's and a softer-than-anticipated US ADP Jobs data weigh on the pair. ISM Services PMI report and Fed Chair Powell's speech.
Gold stays below $2,650 ahead of Powell speech
Gold extends its sideways grind below $2,650 on Wednesday. The 10-year US Treasury bond yield stays in positive territory above 4.2% after private sector employment data, not allowing XAU/USD to gain traction. Fed Chairman Powell will speak on the policy outlook later in the day.
Bitcoin rebounds as South Korea martial law proves short-lived
Bitcoin recovers slightly, trading above $96,000 on Wednesday, after its recent dip on Tuesday due to the political strife in South Korea. With the crisis seeming to be mostly over, BTC recovered more as the reversal of the martial law restored confidence in crypto markets.
The fall of Barnier’s government would be bad news for the French economy
This French political stand-off is just one more negative for the euro. With the eurozone economy facing the threat of tariffs in 2025 and the region lacking any prospect of cohesive fiscal support, the potential fall of the French government merely adds to views that the ECB will have to do the heavy lifting in 2025.
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.