Market update: Australian dollar could rebound a bit; AUD/USD, EUR/AUD, GBP/AUD price set-ups
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By Ryan_Anderson · Posted
In the rapidly evolving medical equipment market, ResMed (ASX: RMD) has demonstrated remarkable growth potential and business resilience. The company not only surpassed the expectations of the market analysts in performance but also saw a significant rebound in gross profit margins, enhancing market optimism about its prospects. Ryan Anderson pointed out in his analysis of the latest financial report of ResMed that as the company expands into the GLP-1 weight loss drug market, it also sees new growth opportunities through its Continuous Positive Airway Pressure (CPAP) therapy product line. This is particularly noteworthy for investors as it not only reveals the strategic positioning of ResMed in the weight loss drug issue but also demonstrates its ability to seek new growth points in the existing market. Against this backdrop, Ryan Anderson believes that the strategic layout and market performance of ResMed showcase its continued competitiveness as a leader in medical devices. Ryan Anderson emphasized that in the dynamics of the global medical equipment market, the adaptability and innovation capabilities of ResMed are key to its continued growth. Especially in the marketing strategy and product innovation of the company, effectively combining market trends and consumer demand enables ResMed to maintain a leading position in a competitive market. For example, the increased investment of ResMed in technology and product development continuously improves the performance and comfort of its CPAP machines, better meeting patient needs. Furthermore, analyst Ryan Anderson mentioned that the market strategy of ResMed is reflected not only in optimizing and innovating its product line but also in increasing brand awareness and market share through scientific research and market education. Through these strategies, ResMed successfully translates technological innovation into market competitiveness, thereby continuously driving sales and profit margin growth. Ryan Anderson further emphasized an optimistic outlook for the future prospects of ResMed. Despite market uncertainties such as international economic fluctuations and changes in industry regulations, the strong foundation and proactive market expansion strategy of ResMed enable it to withstand risks. He advised investors to pay attention to the continued performance and market expansion strategy of ResMed as key indicators for evaluating its long-term investment value. Ryan Anderson also advised investors that while the current stock price reflects some positive factors, in the long term, with further penetration into global markets and continued demonstration of product innovation capabilities, there is potential for further stock price increases. He believes that investing in ResMed is a wise investment in the long-term trend of health technology, especially against the backdrop of increasing global health awareness and rapid development of medical technology. -
By tradinglounge · Posted
TXN Elliott Wave Analysis Trading Lounge Daily Chart, Texas Instruments Inc., (TXN) Daily Chart TXN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor 3 DIRECTION: Upside in Minor 3. DETAILS: Looking for at least equality of 3 vs. 1 as upside target, to eventually turn into an ABC in the worst of scenarios. TXN Elliott Wavse Analysis Trading Lounge 4Hr Chart, Texas Instruments Inc., (TXN) 4Hr Chart TXN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {ii} of 3. DIRECTION: Upside in {iii}. DETAILS: Looking for acceleration in wave {iii}, with closing volume on Friday suggesting a bullish move to the upside. This detailed Elliott Wave analysis focuses on Texas Instruments Incorporated (TXN) as observed in both the daily and 4-hour charts on May 6, 2024. Our analysis aims to provide investors and traders with actionable insights into the stock’s current trends and potential future movements. *TXN Elliott Wave Technical Analysis – Daily Chart* The daily chart for TXN reveals that the stock is currently in an impulsive, motive wave pattern, identified as Minor wave 3. This suggests a strong upward trend, indicating potential for significant gains. The analysis targets at least equality between wave 3 and wave 1, pointing towards a robust upside potential. In less favorable scenarios, this movement might evolve into an ABC correction pattern, but the primary expectation remains bullish. * TXN Elliott Wave Technical Analysis – 4H Chart* Diving deeper into the 4-hour chart, TXN is positioned in Wave {ii} of Minor 3, forecasting an upcoming surge in Wave {iii}. The closing volume on the previous trading day (Friday) indicated a significant bullish sentiment, which aligns with expectations for an acceleration in Wave {iii}. This provides an excellent setup for traders looking to capitalize on the next upward move. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Cocoa Elliott Wave Analysis Function - Counter-trend Mode - Corrective Structure - Not yet defined Position - Blue wave ‘a’ Direction - Blue wave ‘b’ Details - Bearish impulse from the top appears to have completed the last leg. The current bounce for blue wave ‘b’ can extend toward the 10,000 key resistance. Cocoa, after reaching an all-time high, has undergone a substantial decline, marking its most significant price drop since September 2022. This descent signals a pivotal shift in market sentiment, hinting at further downward movement in the ensuing weeks. However, amidst this bearish momentum, there exists the possibility of a temporary rebound, potentially leading to a retest of the crucial 10,000 major level. In this comprehensive analysis, we aim to delve into both the long-term and medium-term trajectory of this commodity. Examining the daily chart reveals a remarkable rally of over 420% from its September 2022 low of 2198 to achieve a fresh all-time high through an evident impulse wave. Before this surge, the price exhibited sideways movement for approximately six months. Presently, the ongoing decline from the peak appears to be forming the culmination of an impulse wave on the H4 charts. Consequently, we anticipate the emergence of either a continuation of this downward impulse or, at the very least, a corrective 3-wave pullback, potentially manifesting as a flat or zigzag pattern, with the latter being the more probable scenario. On the H4 chart, the impulse from the all-time high seems to be nearing completion with wave (v). Alternatively, it's plausible that the current upward movement could be part of wave (v), suggesting that the impulse for blue wave ‘a’ may extend further downwards. Regardless, it is anticipated that following this impulse, a corrective bounce for blue wave ‘b’ will likely occur, possibly reaching the 10,000 mark or its vicinity, before the subsequent downward impulse unfolds. The intensity of the third leg of this pattern will play a decisive role in determining whether a zigzag (blue wave ‘c’) or an impulse (blue wave ’3’) materializes from the peak. Should the third leg terminate at or before the 161.8% Fibonacci extension level, particularly around the 100% mark, the likelihood of a zigzag pattern increases. Conversely, if the extension surpasses the 161.8% threshold, the probability of an impulse wave strengthens. The latter scenario portends a deeper sell-off compared to the former, indicating the potential for a more pronounced downward movement in the market. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!
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