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By tradinglounge · Posted
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COMPUTERSHARE LIMITED. - CPU. We see CPU.ASX not ready to rally yet, there is a good chance that there will be another push lower before it really starts to move higher afterwards. ASX: COMPUTERSHARE LIMITED. - CPU 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave ((b))-navy of Wave 2-grey Details: Wave 1-grey has finished as a Diagonal, and wave 2-grey is unfolding to push lower, aiming for retracement targets at 50% - 61.8%, Diagonals are usually followed by deep and powerful moves. So this wave 2-grey will continue its role. And it is developing as a Zigzag, wave ((a))-navy is completed, now it is time for wave ((b))-navy to push a little higher. Invalidation point: 20.27 ASX: COMPUTERSHARE LIMITED. - CPU 4-Hour Chart Analysis Function: Counter trend (Minute degree, navy) Mode: Motive Structure: Zigzag Position: Wave ((b))-navy of Wave 2-grey Details: Looking closer, wave 1-grey has ended as a Diagonal, and wave 2-grey is unfolding to push lower. Usually, after Diagonals, price action is usually sharp and strong, so wave 2-grey will continue to push lower, aiming for targets around 24.16 - 23.18. Wave 2-grey itself is developing as a Zigzag, and its wave ((b))-navy is pushing a bit higher, circling targets at 26.5 -27.2 - 28, after which wave ((c))-navy will return and push lower. Invalidation point: 28.76 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). Source : Tradinglounge.com get trial here! Tags: #ElliottWave #Computershare #CPUASX #ASX200 #TradingLounge #ASXStocks #Stocks -
By CryptoChamp · Posted
Ethereum (ETH) has seen some significant price fluctuations lately. With a slight gain of 0.3% at press time, ETH is trading at $2,446. Investors and traders are now focusing on the ETH price prediction as market conditions remain volatile. Let's break down the key factors affecting Ethereum’s price action and what to watch for in the coming days. Recent Price Movements Ethereum’s intraday low was $2,400.51, and its high reached $2,470.91. Recent outflows of $8.19 million from Ethereum ETFs (as of October 8) are adding to the pressure. Whale Alert has reported large ETH dumps to Coinbase, increasing selling pressure. Ethereum’s current market cap stands at $294.32 billion. Facing Resistance Ethereum’s price was rejected at a key resistance level of $2,461 on Monday. This resistance zone aligns with: 50% price retracement at $2,487. The 50-day EMA around $2,546. As of Wednesday, ETH is trading slightly above $2,400 and is again approaching this crucial resistance level. What Happens If Resistance Holds? If Ethereum fails to break the $2,461 resistance, we could see a 12% decline from its current level, possibly retesting the September 6 low of $2,155. The RSI is currently at 46, signaling weakness and a continuation of the downward trend. Potential Upside If ETH breaks through the $2,461 resistance and closes above the 50-day EMA at $2,546, there is potential for further upward movement. In this scenario: ETH could rise to retest its August 25 high of $2,820. Key Support Levels to Watch Should Ethereum fail to clear the resistance and start declining, here are the support levels to monitor: Initial support sits near $2,420. Major support is found at $2,390, which also aligns with the 61.8% Fib retracement level (from the $2,310 swing low to the $2,519 high). A move below $2,390 could push prices toward $2,325. Further losses may send ETH down to $2,240. The next critical support level is at $2,120. Ethereum's price is in a tight spot, with both upside and downside possibilities. A breakout above $2,461 could spark a rally, while failing to break resistance may trigger a decline toward lower support levels. Keep an eye on these key levels as the next few days will be crucial for determining ETH’s price direction -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective position: Wave ((Y)) Direction Next higher Degrees: wave IV Wave Cancel invalid level: Details: The decline of wave IV is likely to end and the price is re-entering the uptrend. Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: It looks like the wave IV correction is complete and the price is still likely to move up. Look for an opportunity to join the wave V uptrend. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum. Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective position: Wave ((Y)) Direction Next higher Degrees: wave (2) Wave Cancel invalid level: Details: Wave (2) is likely to end and the price is re-entering the uptrend. Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: It looks like the wave (2) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (3) uptrend. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!
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